Dyne Therapeutics (NASDAQ:DYN - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 41.43% from the stock's previous close.
Several other research analysts have also recently issued reports on DYN. HC Wainwright reiterated a "buy" rating and issued a $46.00 price objective on shares of Dyne Therapeutics in a research report on Monday, March 17th. Robert W. Baird initiated coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They set an "outperform" rating and a $46.00 price target for the company. Guggenheim reissued a "buy" rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Scotiabank assumed coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price for the company. Finally, Raymond James raised Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.46.
Read Our Latest Stock Analysis on DYN
Dyne Therapeutics Price Performance
Shares of NASDAQ:DYN traded down $0.37 on Friday, reaching $12.02. The company's stock had a trading volume of 72,207 shares, compared to its average volume of 1,352,046. Dyne Therapeutics has a 52-week low of $11.18 and a 52-week high of $47.45. The stock's 50-day moving average is $13.54 and its two-hundred day moving average is $23.99. The stock has a market capitalization of $1.36 billion, a P/E ratio of -3.36 and a beta of 1.11.
Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. Equities analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 of the company's stock, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,237 shares of company stock valued at $77,760 in the last ninety days. Corporate insiders own 20.77% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in Dyne Therapeutics during the 3rd quarter valued at about $34,000. Point72 DIFC Ltd acquired a new position in shares of Dyne Therapeutics during the third quarter valued at approximately $36,000. GF Fund Management CO. LTD. bought a new stake in Dyne Therapeutics during the fourth quarter worth approximately $50,000. KBC Group NV lifted its position in Dyne Therapeutics by 53.4% in the third quarter. KBC Group NV now owns 2,157 shares of the company's stock worth $77,000 after purchasing an additional 751 shares during the period. Finally, Quest Partners LLC lifted its position in Dyne Therapeutics by 898.3% in the third quarter. Quest Partners LLC now owns 3,434 shares of the company's stock worth $123,000 after purchasing an additional 3,090 shares during the period. Institutional investors and hedge funds own 96.68% of the company's stock.
About Dyne Therapeutics
(
Get Free Report)
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.
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