Brokerages Set Dyne Therapeutics, Inc. (NASDAQ:DYN) Price Target at $48.85

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) has earned a consensus recommendation of "Buy" from the fifteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $48.85.

Several brokerages recently issued reports on DYN. Chardan Capital reissued a "buy" rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday. Piper Sandler cut their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Scotiabank assumed coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price objective on the stock. Raymond James upgraded shares of Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price for the company.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 6,237 shares of company stock worth $77,760 over the last three months. Company insiders own 20.77% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DYN. FMR LLC increased its holdings in Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company's stock valued at $324,239,000 after buying an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Dyne Therapeutics by 47.3% in the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company's stock valued at $244,755,000 after buying an additional 2,189,339 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Dyne Therapeutics in the fourth quarter valued at $42,408,000. Norges Bank purchased a new position in Dyne Therapeutics in the fourth quarter valued at $22,384,000. Finally, Point72 Asset Management L.P. increased its holdings in Dyne Therapeutics by 802.3% in the fourth quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company's stock valued at $21,785,000 after buying an additional 822,201 shares in the last quarter. Hedge funds and other institutional investors own 96.68% of the company's stock.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN traded up $0.27 during trading on Friday, reaching $12.58. 1,814,056 shares of the company were exchanged, compared to its average volume of 1,336,298. The firm has a market capitalization of $1.42 billion, a PE ratio of -3.53 and a beta of 1.11. The business's fifty day simple moving average is $14.33 and its 200-day simple moving average is $24.90. Dyne Therapeutics has a 12-month low of $11.18 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts anticipate that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

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.