Oppenheimer Reaffirms Outperform Rating for Dyne Therapeutics (NASDAQ:DYN)

Oppenheimer reaffirmed their outperform rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $47.00 price target on the stock.

DYN has been the subject of a number of other research reports. Piper Sandler raised their price objective on Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Chardan Capital reaffirmed a buy rating and issued a $31.00 price target on shares of Dyne Therapeutics in a report on Monday. HC Wainwright reissued a buy rating and set a $36.00 price objective on shares of Dyne Therapeutics in a report on Friday, May 3rd. Stifel Nicolaus boosted their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley initiated coverage on Dyne Therapeutics in a research report on Tuesday, April 30th. They set an overweight rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $37.75.

Dyne Therapeutics Trading Up 0.2 %

NASDAQ DYN opened at $25.69 on Monday. The stock has a market cap of $2.24 billion, a P/E ratio of -6.47 and a beta of 1.00. The company’s fifty day simple moving average is $26.49 and its 200-day simple moving average is $18.88. Dyne Therapeutics has a 52 week low of $6.40 and a 52 week high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.17). On average, research analysts expect that Dyne Therapeutics will post -3.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Wildon Farwell sold 5,493 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.07, for a total transaction of $137,709.51. Following the completion of the transaction, the insider now owns 163,503 shares of the company’s stock, valued at $4,099,020.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Wildon Farwell sold 5,493 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.07, for a total value of $137,709.51. Following the transaction, the insider now directly owns 163,503 shares of the company’s stock, valued at $4,099,020.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Venture Fund Xi L.P. Atlas sold 184,501 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.57, for a total value of $4,164,187.57. Following the completion of the sale, the insider now directly owns 6,631,464 shares of the company’s stock, valued at approximately $149,672,142.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,875,432 shares of company stock valued at $44,368,530 over the last quarter. Corporate insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in shares of Dyne Therapeutics by 44.6% during the 1st quarter. ProShare Advisors LLC now owns 16,307 shares of the company’s stock worth $463,000 after purchasing an additional 5,028 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Dyne Therapeutics by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 101,943 shares of the company’s stock valued at $2,894,000 after acquiring an additional 1,447 shares during the last quarter. Sei Investments Co. bought a new position in shares of Dyne Therapeutics in the 1st quarter valued at about $693,000. Concurrent Investment Advisors LLC acquired a new position in shares of Dyne Therapeutics during the 1st quarter worth about $573,000. Finally, Swiss National Bank raised its holdings in shares of Dyne Therapeutics by 41.5% in the 1st quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $2,419,000 after purchasing an additional 25,000 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

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.