Dyne Therapeutics (NASDAQ:DYN) Upgraded to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Dyne Therapeutics (NASDAQ:DYN) from an outperform rating to a strong-buy rating in a report issued on Monday morning, MarketBeat reports. The brokerage currently has $35.00 price target on the stock, up from their previous price target of $31.00.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Dyne Therapeutics from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, July 15th. HC Wainwright dropped their target price on Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Stifel Nicolaus dropped their target price on Dyne Therapeutics from $66.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Sanford C. Bernstein assumed coverage on Dyne Therapeutics in a report on Tuesday, June 24th. They issued a “market perform” rating and a $13.00 target price on the stock. Finally, Oppenheimer dropped their target price on Dyne Therapeutics from $34.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.07.

Dyne Therapeutics Trading Up 3.3%

Shares of Dyne Therapeutics stock opened at $13.00 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.83 and a current ratio of 16.83. Dyne Therapeutics has a 52 week low of $6.36 and a 52 week high of $46.26. The stock has a 50 day moving average price of $10.22 and a two-hundred day moving average price of $11.14. The stock has a market capitalization of $1.85 billion, a PE ratio of -3.37 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.02. As a group, equities analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, CEO John Cox bought 100,000 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, July 14th. The stock was acquired at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the transaction, the chief executive officer directly owned 242,179 shares in the company, valued at $2,206,250.69. This represents a 70.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 20.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in Dyne Therapeutics by 54.5% during the 4th quarter. Wells Fargo & Company MN now owns 38,754 shares of the company’s stock valued at $913,000 after purchasing an additional 13,677 shares during the last quarter. Raymond James Financial Inc. bought a new position in Dyne Therapeutics during the 4th quarter valued at approximately $2,340,000. Marshall Wace LLP bought a new position in Dyne Therapeutics during the 4th quarter valued at approximately $577,000. MetLife Investment Management LLC raised its position in Dyne Therapeutics by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 49,467 shares of the company’s stock valued at $1,165,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Dyne Therapeutics by 887.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,018 shares of the company’s stock valued at $377,000 after purchasing an additional 14,396 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.