Royal Bank of Canada Initiates Coverage on Dyne Therapeutics (NASDAQ:DYN)

Investment analysts at Royal Bank of Canada started coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $45.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 44.56% from the company’s previous close.

Several other analysts have also recently weighed in on the company. StockNews.com cut Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Guggenheim upped their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.82.

Dyne Therapeutics Trading Up 6.5 %

DYN stock opened at $31.13 on Tuesday. The firm has a 50 day moving average of $31.95 and a 200-day moving average of $35.42. The firm has a market capitalization of $3.17 billion, a P/E ratio of -8.15 and a beta of 1.10. Dyne Therapeutics has a 12 month low of $10.12 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Sell-side analysts predict that Dyne Therapeutics will post -3.45 EPS for the current year.

Insider Buying and Selling

In other news, CEO John Cox bought 32,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the acquisition, the chief executive officer now owns 8,000 shares in the company, valued at approximately $264,320. This trade represents a -133.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carlo Incerti sold 16,500 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,257 shares of company stock worth $6,193,718 in the last ninety days. 20.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after purchasing an additional 669 shares during the period. Quantbot Technologies LP bought a new stake in Dyne Therapeutics during the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd purchased a new position in shares of Dyne Therapeutics during the 3rd quarter worth approximately $36,000. US Bancorp DE raised its position in shares of Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after acquiring an additional 1,212 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Dyne Therapeutics in the 3rd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.