Dyne Therapeutics (NASDAQ:DYN) Given New $48.00 Price Target at Piper Sandler

Dyne Therapeutics (NASDAQ:DYN) had its price objective decreased by Piper Sandler from $53.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on DYN. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright reduced their price target on shares of Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Dyne Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $13.61 on Friday. The business’s fifty day moving average price is $16.98 and its two-hundred day moving average price is $27.73. Dyne Therapeutics has a fifty-two week low of $12.87 and a fifty-two week high of $47.45. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.82 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. Research analysts expect that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Richard William Scalzo sold 1,455 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,387 shares of company stock valued at $142,789 over the last ninety days. Insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock valued at $324,239,000 after purchasing an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Dyne Therapeutics by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after buying an additional 566,146 shares in the last quarter. RTW Investments LP raised its stake in Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after buying an additional 431,503 shares during the period. RA Capital Management L.P. lifted its holdings in Dyne Therapeutics by 5.5% during the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after acquiring an additional 331,940 shares in the last quarter. Finally, State Street Corp grew its stake in Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after acquiring an additional 440,890 shares during the period. 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.