HC Wainwright Reiterates Buy Rating for Decibel Therapeutics (NASDAQ:DBTX)

Decibel Therapeutics (NASDAQ:DBTX – Get Rating)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $23.00 price objective on the stock. HC Wainwright also issued estimates for Decibel Therapeutics’ FY2027 earnings at ($0.52) EPS.

Other analysts have also issued reports about the company. SVB Securities lowered Decibel Therapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $7.00 to $2.00 in a report on Wednesday. SVB Leerink cut their price target on Decibel Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Decibel Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Decibel Therapeutics Price Performance

Shares of Decibel Therapeutics stock opened at $3.73 on Wednesday. The firm has a market cap of $93.14 million, a price-to-earnings ratio of -1.57 and a beta of -0.02. The stock’s 50-day moving average is $3.65 and its 200-day moving average is $3.48. Decibel Therapeutics has a one year low of $1.61 and a one year high of $5.78.

Institutional Trading of Decibel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DBTX. BlackRock Inc. increased its position in Decibel Therapeutics by 73.1% during the first quarter. BlackRock Inc. now owns 1,897,223 shares of the company’s stock worth $5,768,000 after buying an additional 801,010 shares during the last quarter. Bank of America Corp DE increased its position in Decibel Therapeutics by 36.2% during the first quarter. Bank of America Corp DE now owns 18,689 shares of the company’s stock worth $56,000 after buying an additional 4,966 shares during the last quarter. Renaissance Technologies LLC increased its position in Decibel Therapeutics by 32.0% during the second quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $116,000 after buying an additional 6,685 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in Decibel Therapeutics during the second quarter worth approximately $947,000. Finally, Federated Hermes Inc. increased its position in Decibel Therapeutics by 33.3% during the second quarter. Federated Hermes Inc. now owns 20,000 shares of the company’s stock worth $84,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.

Decibel Therapeutics Company Profile

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Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.