Dyne Therapeutics (NASDAQ:DYN) Now Covered by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $40.00 price objective on the stock.

Other research analysts also recently issued reports about the company. HC Wainwright restated a buy rating and set a $36.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, March 6th. Chardan Capital boosted their target price on Dyne Therapeutics from $20.00 to $31.00 and gave the stock a buy rating in a research note on Friday, March 8th. Raymond James boosted their target price 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. Oppenheimer restated an outperform rating and set a $47.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, March 26th. Finally, Piper Sandler boosted their price target on Dyne Therapeutics from $27.00 to $29.00 and gave the company 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. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $37.75.

Dyne Therapeutics Price Performance

Shares of DYN stock opened at $25.31 on Tuesday. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $30.27. The stock’s 50 day simple moving average is $26.15 and its two-hundred day simple moving average is $18.06. The company has a market cap of $2.18 billion, a PE ratio of -6.42 and a beta of 0.95.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.17). Equities research analysts expect that Dyne Therapeutics will post -3.25 EPS for the current year.

Insider Activity

In other news, CEO Joshua T. Brumm sold 5,520 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $27.50, for a total value of $151,800.00. Following the completion of the transaction, the chief executive officer now owns 563,471 shares of the company’s stock, valued at approximately $15,495,452.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jason P. Rhodes sold 177,906 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $23.89, for a total value of $4,250,174.34. Following the completion of the transaction, the director now owns 7,148,211 shares of the company’s stock, valued at approximately $170,770,760.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joshua T. Brumm sold 5,520 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $27.50, for a total value of $151,800.00. Following the completion of the transaction, the chief executive officer now directly owns 563,471 shares of the company’s stock, valued at approximately $15,495,452.50. The disclosure for this sale can be found here. Insiders sold a total of 1,875,432 shares of company stock valued at $44,368,530 in the last quarter. 20.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently made changes to their positions in DYN. Raymond James & Associates grew its position in Dyne Therapeutics by 22.6% in the third quarter. Raymond James & Associates now owns 88,238 shares of the company’s stock worth $791,000 after acquiring an additional 16,240 shares during the period. Bank of New York Mellon Corp grew its position in Dyne Therapeutics by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 157,443 shares of the company’s stock worth $1,411,000 after acquiring an additional 7,196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dyne Therapeutics by 58.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after acquiring an additional 3,092 shares during the period. TD Asset Management Inc purchased a new position in Dyne Therapeutics in the third quarter worth approximately $206,000. Finally, Allspring Global Investments Holdings LLC grew its position in Dyne Therapeutics by 95.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock worth $83,000 after acquiring an additional 4,552 shares during the period. Institutional investors and hedge funds 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.