HC Wainwright Reiterates Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

HC Wainwright reissued their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Friday,Benzinga reports. The brokerage currently has a $55.00 price target on the stock.

DYN has been the subject of several other reports. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. downgraded Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $43.00 to $35.00 in a report on Thursday, October 24th. Finally, Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $49.91.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $15.87 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -4.46 and a beta of 1.16. Dyne Therapeutics has a one year low of $14.79 and a one year high of $47.45. The business’s 50-day simple moving average is $27.29 and its 200 day simple moving average is $34.15.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). On average, equities research analysts predict that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Buying and Selling

In other news, Director Carlo Incerti sold 16,500 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $28.73, for a total transaction of $474,045.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dirk Kersten sold 23,671 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total transaction of $836,769.85. Following the completion of the sale, the director now directly owns 99,652 shares of the company’s stock, valued at $3,522,698.20. The trade was a 19.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,742 shares of company stock valued at $1,443,246 in the last quarter. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Dyne Therapeutics in the 3rd quarter worth approximately $34,000. Point72 DIFC Ltd bought a new stake in Dyne Therapeutics during the third quarter worth approximately $36,000. US Bancorp DE lifted its position in Dyne Therapeutics by 776.9% in the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares during the period. Values First Advisors Inc. bought a new position in Dyne Therapeutics during the 3rd quarter valued at $62,000. Finally, KBC Group NV increased its position in shares of Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock valued at $77,000 after purchasing an additional 751 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.