Dyne Therapeutics, Inc. (NASDAQ:DYN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have received an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.42.

Several research firms recently commented on DYN. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Robert W. Baird began coverage on Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th.

Dyne Therapeutics Trading Down 3.1 %

NASDAQ:DYN opened at $23.72 on Monday. Dyne Therapeutics has a 1 year low of $12.33 and a 1 year high of $47.45. The stock has a 50-day moving average price of $28.58 and a two-hundred day moving average price of $34.74. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -6.66 and a beta of 1.09.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Sell-side analysts forecast that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insiders Place Their Bets

In other Dyne Therapeutics news, Director Dirk Kersten sold 23,671 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total value of $836,769.85. Following the transaction, the director now directly owns 99,652 shares in the company, valued at $3,522,698.20. The trade was a 19.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $40,914.60. Following the sale, the senior vice president now owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,742 shares of company stock valued at $1,443,246. 20.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D bought a new stake in shares of Dyne Therapeutics during the third quarter worth approximately $1,588,000. Seven Eight Capital LP lifted its holdings in Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock worth $1,896,000 after purchasing an additional 35,568 shares during the last quarter. Jennison Associates LLC boosted its stake in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after purchasing an additional 19,730 shares during the period. Mutual of America Capital Management LLC acquired a new position in Dyne Therapeutics in the 2nd quarter valued at $1,724,000. Finally, Victory Capital Management Inc. acquired a new position in Dyne Therapeutics in the 2nd quarter valued at $676,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.