Dyne Therapeutics (NASDAQ:DYN) Lifted to “Hold” at Zacks Investment Research

Dyne Therapeutics (NASDAQ:DYN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Dyne Therapeutics Inc. is a muscle disease company focused on advancing innovative life-transforming therapeutics for patients with genetically driven diseases. The company’s proprietary platform includes FORCE(TM). Dyne Therapeutics Inc. is based in WALTHAM, Mass. “

Shares of Dyne Therapeutics stock opened at $15.60 on Monday. The firm’s fifty day simple moving average is $17.82 and its 200-day simple moving average is $18.04. The stock has a market capitalization of $799.94 million and a price-to-earnings ratio of -4.18. Dyne Therapeutics has a 12 month low of $13.50 and a 12 month high of $32.31.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). On average, equities analysts expect that Dyne Therapeutics will post -2.44 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. boosted its position in shares of Dyne Therapeutics by 75.8% during the 2nd quarter. Citigroup Inc. now owns 1,878 shares of the company’s stock worth $40,000 after purchasing an additional 810 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Dyne Therapeutics by 97.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $50,000 after purchasing an additional 1,163 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Dyne Therapeutics by 98.2% during the 2nd quarter. Legal & General Group Plc now owns 3,401 shares of the company’s stock worth $71,000 after purchasing an additional 1,685 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of Dyne Therapeutics by 72.0% during the 1st quarter. First Mercantile Trust Co. now owns 4,548 shares of the company’s stock worth $71,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Dyne Therapeutics by 3,595.2% during the 2nd quarter. Morgan Stanley now owns 4,656 shares of the company’s stock worth $98,000 after purchasing an additional 4,530 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It develops various programs for 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.

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