Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $40.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 57.11% from the company’s current price.

A number of other research analysts have also recently commented on the company. HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, March 6th. Stifel Nicolaus upped their price target on Dyne Therapeutics from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Raymond James upped their price target on Dyne Therapeutics from $27.00 to $56.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 4th. Chardan Capital upped their price target on Dyne Therapeutics from $20.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, Piper Sandler upped their price target on Dyne Therapeutics from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.75.

Dyne Therapeutics Stock Performance

DYN opened at $25.46 on Tuesday. Dyne Therapeutics has a one year low of $6.40 and a one year high of $30.27. The stock has a market capitalization of $2.19 billion, a PE ratio of -6.46 and a beta of 0.95. The business’s 50 day moving average price is $26.15 and its 200 day moving average price is $18.06.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.17). As a group, equities research analysts forecast that Dyne Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other news, Director Jason P. Rhodes sold 248,219 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $23.72, for a total transaction of $5,887,754.68. Following the sale, the director now owns 903,527 shares of the company’s stock, valued at $21,431,660.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jason P. Rhodes sold 248,219 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $23.72, for a total value of $5,887,754.68. Following the transaction, the director now owns 903,527 shares of the company’s stock, valued at $21,431,660.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Venture Fund Xi L.P. Atlas sold 201,095 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $23.72, for a total value of $4,769,973.40. Following the completion of the transaction, the insider now directly owns 6,151,467 shares in the company, valued at approximately $145,912,797.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,875,432 shares of company stock valued at $44,368,530. 20.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently bought and sold shares of DYN. Fcpm Iii Services B.V. purchased a new position in shares of Dyne Therapeutics during the fourth quarter worth about $81,543,000. Braidwell LP grew its holdings in shares of Dyne Therapeutics by 32.2% during the third quarter. Braidwell LP now owns 1,821,972 shares of the company’s stock worth $16,325,000 after purchasing an additional 444,100 shares during the last quarter. Vivo Capital LLC grew its holdings in shares of Dyne Therapeutics by 58.0% during the first quarter. Vivo Capital LLC now owns 1,635,136 shares of the company’s stock worth $46,422,000 after purchasing an additional 600,000 shares during the last quarter. Armistice Capital LLC grew its holdings in shares of Dyne Therapeutics by 31.6% during the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,752,000 after purchasing an additional 288,000 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Dyne Therapeutics during the fourth quarter worth about $15,758,000. Hedge funds and other institutional investors 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.