Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives $43.11 Average Price Target from Brokerages

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been given an average rating of “Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.11.

DYN has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their target price on shares of Dyne Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, May 20th. HC Wainwright increased their price objective on shares of Dyne Therapeutics from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Morgan Stanley began coverage on Dyne Therapeutics in a research report on Tuesday, April 30th. They issued an “overweight” rating and a $40.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th.

Insiders Place Their Bets

In related news, insider Oxana Beskrovnaya sold 2,705 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $28.27, for a total value of $76,470.35. Following the sale, the insider now owns 149,647 shares of the company’s stock, valued at $4,230,520.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Oxana Beskrovnaya sold 2,705 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $28.27, for a total value of $76,470.35. Following the transaction, the insider now owns 149,647 shares of the company’s stock, valued at $4,230,520.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Susanna Gatti High sold 2,738 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $28.27, for a total value of $77,403.26. Following the completion of the sale, the chief operating officer now owns 154,062 shares in the company, valued at $4,355,332.74. The disclosure for this sale can be found here. Insiders have sold a total of 202,133 shares of company stock worth $6,500,387 in the last quarter. 20.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $4,988,000. Concurrent Investment Advisors LLC acquired a new stake in Dyne Therapeutics during the 1st quarter worth $573,000. Sei Investments Co. purchased a new stake in Dyne Therapeutics in the first quarter valued at $693,000. Rafferty Asset Management LLC boosted its stake in Dyne Therapeutics by 17.7% in the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock valued at $2,182,000 after acquiring an additional 24,632 shares in the last quarter. Finally, Commodore Capital LP purchased a new position in shares of Dyne Therapeutics during the fourth quarter worth about $11,970,000. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Up 2.1 %

Shares of Dyne Therapeutics stock opened at $43.07 on Friday. The firm has a market cap of $3.76 billion, a PE ratio of -10.85 and a beta of 1.07. Dyne Therapeutics has a 52 week low of $6.40 and a 52 week high of $45.46. The business’s fifty day simple moving average is $37.42 and its 200-day simple moving average is $29.77.

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.