Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives $50.60 Average Price Target from Brokerages

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) have been given a consensus recommendation of "Buy" by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $50.60.

A number of research firms recently commented on DYN. Piper Sandler reiterated an "overweight" rating and set a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. HC Wainwright reissued a "buy" rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Morgan Stanley upped their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus increased their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, August 16th.

Insider Transactions at Dyne Therapeutics

In other news, CEO John Cox purchased 32,000 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the transaction, the chief executive officer now directly owns 8,000 shares of the company's stock, valued at $264,320. This trade represents a -100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the sale, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Cox bought 32,000 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares of the company's stock, valued at approximately $264,320. This represents a -100.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 158,975 shares of company stock valued at $5,693,789. Corporate insiders own 20.77% of the company's stock.

Institutional Trading of Dyne Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Dyne Therapeutics in the 3rd quarter worth about $927,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Dyne Therapeutics during the 3rd quarter valued at about $1,478,000. Jennison Associates LLC raised its holdings in Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company's stock worth $48,383,000 after buying an additional 19,730 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Dyne Therapeutics by 898.3% during the third quarter. Quest Partners LLC now owns 3,434 shares of the company's stock valued at $123,000 after purchasing an additional 3,090 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Dyne Therapeutics by 53.4% during the third quarter. KBC Group NV now owns 2,157 shares of the company's stock valued at $77,000 after buying an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company's stock.

Dyne Therapeutics Stock Down 2.7 %

Shares of NASDAQ DYN traded down $0.79 during midday trading on Friday, reaching $28.48. The company had a trading volume of 1,261,954 shares, compared to its average volume of 814,351. The stock has a market cap of $2.86 billion, a PE ratio of -7.93 and a beta of 1.10. Dyne Therapeutics has a one year low of $8.04 and a one year high of $47.45. The firm's fifty day moving average price is $33.05 and its 200-day moving average price is $35.06.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.02. As a group, equities research analysts expect that Dyne Therapeutics will post -2.99 EPS for the current year.

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.