Chardan Capital Reiterates “Buy” Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by Chardan Capital in a report released on Monday, Benzinga reports. They presently have a $31.00 target price on the stock. Chardan Capital’s price objective would indicate a potential upside of 20.86% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. 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 report on Wednesday, March 6th. Morgan Stanley started coverage on Dyne Therapeutics in a report on Tuesday, April 30th. They set an “overweight” rating and a $40.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of Dyne Therapeutics in a research note on Friday, May 3rd. Oppenheimer restated an “outperform” rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, March 26th. Finally, Stifel Nicolaus boosted their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Dyne Therapeutics Price Performance

Shares of DYN stock opened at $25.65 on Monday. The firm has a market cap of $2.24 billion, a PE ratio of -6.46 and a beta of 1.00. The company has a 50-day moving average of $26.47 and a two-hundred day moving average of $18.83. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last announced its 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). Sell-side analysts anticipate that Dyne Therapeutics will post -3.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jason P. Rhodes sold 177,906 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $23.89, for a total value of $4,250,174.34. Following the completion of the sale, the director now directly owns 7,148,211 shares of the company’s stock, valued at approximately $170,770,760.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jason P. Rhodes sold 177,906 shares of Dyne Therapeutics stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Venture Fund Xi L.P. Atlas sold 184,501 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.57, for a total transaction of $4,164,187.57. Following the sale, the insider now owns 6,631,464 shares of the company’s stock, valued at approximately $149,672,142.48. The disclosure for this sale can be found here. Insiders have sold 1,875,432 shares of company stock worth $44,368,530 in the last ninety days. 20.77% of the stock is owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

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

About Dyne Therapeutics

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.