Dyne Therapeutics (NASDAQ:DYN) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $40.00 price objective on the stock.

Several other analysts have also weighed in on DYN. Piper Sandler lifted their price objective on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Oppenheimer reiterated an outperform rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, March 26th. Raymond James lifted their price objective on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the company a strong-buy rating in a research note on Thursday, January 4th. Stifel Nicolaus lifted their price objective on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Chardan Capital lifted their price objective on shares of Dyne Therapeutics from $20.00 to $31.00 and gave the company a buy rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $37.75.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN opened at $26.08 on Tuesday. The company has a market capitalization of $2.25 billion, a P/E ratio of -6.62 and a beta of 1.00. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $30.27. The company’s 50 day moving average price is $26.34 and its 200-day moving average price is $18.29.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.17). Analysts forecast that Dyne Therapeutics will post -3.27 earnings per share for the current year.

Insider Transactions at Dyne Therapeutics

In other news, COO Susanna Gatti High sold 2,292 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $25.70, for a total value of $58,904.40. Following the completion of the sale, the chief operating officer now owns 156,800 shares in the company, valued at approximately $4,029,760. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Jason P. Rhodes sold 177,906 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $23.89, for a total value of $4,250,174.34. Following the transaction, the director now directly owns 7,148,211 shares of the company’s stock, valued at approximately $170,770,760.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Susanna Gatti High sold 2,292 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $25.70, for a total transaction of $58,904.40. Following the sale, the chief operating officer now directly owns 156,800 shares in the company, valued at $4,029,760. The disclosure for this sale can be found here. Insiders sold a total of 1,875,432 shares of company stock worth $44,368,530 in the last quarter. 20.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of Dyne Therapeutics by 22.6% in the third quarter. Raymond James & Associates now owns 88,238 shares of the company’s stock worth $791,000 after buying an additional 16,240 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Dyne Therapeutics by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 157,443 shares of the company’s stock worth $1,411,000 after buying an additional 7,196 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dyne Therapeutics by 58.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after buying an additional 3,092 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of Dyne Therapeutics in the third quarter worth about $206,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Dyne Therapeutics by 95.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock worth $83,000 after buying an additional 4,552 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.