Brokerages Set Dyne Therapeutics, Inc. (NASDAQ:DYN) Price Target at $49.91

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been assigned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $49.91.

DYN has been the topic of a number of research analyst reports. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Robert W. Baird initiated coverage on Dyne Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,334 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $65,632.08. Following the sale, the insider now directly owns 201,685 shares in the company, valued at $5,671,382.20. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares in the company, valued at approximately $3,573,433.36. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently modified their holdings of the company. FMR LLC increased its position in shares of Dyne Therapeutics by 69.7% during the 3rd 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 during the period. Janus Henderson Group PLC increased its position in shares of Dyne Therapeutics by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after purchasing an additional 566,146 shares during the period. RTW Investments LP increased its position in shares of Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after purchasing an additional 431,503 shares during the period. RA Capital Management L.P. increased its position in shares of Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after purchasing an additional 331,940 shares during the period. Finally, State Street Corp increased its position in shares of Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after purchasing an additional 440,890 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Up 0.1 %

NASDAQ:DYN opened at $14.01 on Tuesday. The business’s 50 day moving average is $18.13 and its two-hundred day moving average is $28.65. Dyne Therapeutics has a 52 week low of $13.07 and a 52 week high of $47.45. The company has a market cap of $1.43 billion, a PE ratio of -3.94 and a beta of 1.11.

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.