Scotiabank Begins Coverage on Dyne Therapeutics (NASDAQ:DYN)

Scotiabank initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN - Free Report) in a research note released on Friday, MarketBeat Ratings reports. The brokerage issued a sector outperform rating and a $50.00 price target on the stock.

Several other brokerages have also recently issued reports on DYN. Piper Sandler lowered their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $46.00 target price on the stock. Baird R W raised shares of Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. HC Wainwright lowered their target price on shares of Dyne Therapeutics from $55.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Raymond James raised shares of Dyne Therapeutics to a "strong-buy" rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.75.

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Dyne Therapeutics Price Performance

NASDAQ DYN traded up $0.16 on Friday, hitting $12.40. The company had a trading volume of 1,330,987 shares, compared to its average volume of 2,217,086. The company has a market capitalization of $1.40 billion, a PE ratio of -3.48 and a beta of 1.11. The company's fifty day moving average price is $15.80 and its 200-day moving average price is $26.45. Dyne Therapeutics has a 12-month low of $11.62 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping 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 year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares of the company's stock, valued at $3,573,433.36. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Oxana Beskrovnaya sold 2,334 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $65,632.08. Following the completion of the transaction, the insider now directly owns 201,685 shares in the company, valued at $5,671,382.20. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,387 shares of company stock valued at $142,789 over the last 90 days. 20.77% of the stock is owned by insiders.

Institutional Trading of Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in Dyne Therapeutics during the third quarter worth about $34,000. Point72 DIFC Ltd purchased a new stake in Dyne Therapeutics during the third quarter worth about $36,000. US Bancorp DE increased its stake in Dyne Therapeutics by 776.9% during 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. GF Fund Management CO. LTD. purchased a new stake in Dyne Therapeutics during the fourth quarter worth about $50,000. Finally, KBC Group NV increased its stake in Dyne Therapeutics by 45.3% during the fourth quarter. KBC Group NV now owns 3,135 shares of the company's stock worth $74,000 after purchasing an additional 978 shares during the period. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

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.