Dyne Therapeutics (NASDAQ:DYN) Price Target Cut to $23.00 by Analysts at Royal Bank Of Canada

Dyne Therapeutics (NASDAQ:DYN) had its price target cut by Royal Bank Of Canada from $25.00 to $23.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Jones Trading began coverage on shares of Dyne Therapeutics in a research report on Thursday, June 26th. They issued a “buy” rating and a $30.00 price target for the company. Raymond James Financial restated an “outperform” rating and set a $31.00 price objective (down from $37.00) on shares of Dyne Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Sanford C. Bernstein began coverage on shares of Dyne Therapeutics in a research report on Tuesday, June 24th. They set a “market perform” rating and a $13.00 price objective for the company. Finally, Robert W. Baird lowered their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.13.

Dyne Therapeutics Stock Down 1.2%

Shares of NASDAQ:DYN opened at $9.20 on Tuesday. Dyne Therapeutics has a 12-month low of $6.36 and a 12-month high of $47.45. The stock has a market cap of $1.05 billion, a PE ratio of -2.38 and a beta of 1.08. The business has a 50 day moving average of $10.82 and a 200-day moving average of $11.56.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, July 28th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.02. Equities research analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity

In related news, CEO John Cox acquired 100,000 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were bought at an average price of $9.11 per share, with a total value of $911,000.00. Following the transaction, the chief executive officer directly owned 242,179 shares of the company’s stock, valued at $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in DYN. RA Capital Management L.P. raised its holdings 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 worth $101,613,000 after acquiring an additional 3,333,248 shares during the last quarter. Atlas Venture Life Science Advisors LLC raised its holdings in shares of Dyne Therapeutics by 13.9% in the 1st quarter. Atlas Venture Life Science Advisors LLC now owns 9,130,465 shares of the company’s stock worth $95,505,000 after acquiring an additional 1,111,111 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Dyne Therapeutics by 10.5% in the 1st quarter. Vanguard Group Inc. now owns 7,406,344 shares of the company’s stock worth $77,470,000 after acquiring an additional 702,418 shares during the last quarter. Janus Henderson Group PLC increased its stake in Dyne Therapeutics by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after buying an additional 566,146 shares during the last quarter. Finally, Braidwell LP increased its stake in Dyne Therapeutics by 431.6% in the 1st quarter. Braidwell LP now owns 3,621,344 shares of the company’s stock valued at $37,879,000 after buying an additional 2,940,162 shares during the last quarter. Institutional investors 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.