Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated by Analysts at Jones Trading

Jones Trading started coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report sent to investors on Thursday,Benzinga reports. The firm issued a buy rating and a $30.00 price target on the stock.

Several other analysts also recently weighed in on the company. BMO Capital Markets began coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. Evercore ISI assumed coverage on Dyne Therapeutics in a research report on Thursday, May 29th. They issued an “outperform” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Piper Sandler decreased their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Sanford C. Bernstein started coverage on shares of Dyne Therapeutics in a report on Tuesday. They issued a “market perform” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Dyne Therapeutics has an average rating of “Moderate Buy” and an average target price of $41.13.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $10.05 on Thursday. Dyne Therapeutics has a 1-year low of $6.36 and a 1-year high of $47.45. The business has a fifty day moving average price of $11.80 and a 200-day moving average price of $14.08. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.80 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). On average, equities research analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. RA Capital Management L.P. increased its stake in shares of Dyne Therapeutics by 52.2% in the 1st quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company’s stock valued at $101,613,000 after purchasing an additional 3,333,248 shares in the last quarter. Braidwell LP boosted its position in Dyne Therapeutics by 431.6% during the first quarter. Braidwell LP now owns 3,621,344 shares of the company’s stock worth $37,879,000 after purchasing an additional 2,940,162 shares in the last quarter. Armistice Capital LLC grew its holdings in Dyne Therapeutics by 187.0% in the first quarter. Armistice Capital LLC now owns 2,768,000 shares of the company’s stock valued at $28,953,000 after purchasing an additional 1,803,482 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Dyne Therapeutics in the fourth quarter valued at approximately $42,408,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Dyne Therapeutics in the first quarter valued at approximately $18,828,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.