Scotiabank Initiates Coverage on Dyne Therapeutics (NASDAQ:DYN)

Equities researchers at Scotiabank assumed coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “sector outperform” rating and a $50.00 price target on the stock. Scotiabank’s price target suggests a potential upside of 303.23% from the stock’s current price.

DYN has been the subject of a number of other research reports. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Chardan Capital reissued a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Friday, February 28th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, HC Wainwright lowered their target price on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $12.40 on Friday. Dyne Therapeutics has a fifty-two week low of $11.62 and a fifty-two week high of $47.45. The stock has a market cap of $1.40 billion, a P/E ratio of -3.48 and a beta of 1.11. The firm’s fifty day moving average price is $15.80 and its 200-day moving average price is $26.45.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, analysts predict that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $40,914.60. Following the sale, the senior vice president now directly owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. The trade was 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 worth $142,789 over the last quarter. 20.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Dyne Therapeutics in the 4th quarter worth about $50,000. Neo Ivy Capital Management purchased a new stake in Dyne Therapeutics in the fourth quarter worth about $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Dyne Therapeutics by 6.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,363 shares of the company’s stock valued at $3,378,000 after purchasing an additional 9,029 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Dyne Therapeutics in the 4th quarter worth approximately $2,804,000. Finally, Two Sigma Advisers LP grew its stake in shares of Dyne Therapeutics by 25.4% in the 4th quarter. Two Sigma Advisers LP now owns 76,100 shares of the company’s stock worth $1,793,000 after buying an additional 15,400 shares during the last quarter. 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.