Dyne Therapeutics (NASDAQ:DYN) Cut to Neutral at JPMorgan Chase & Co.

Dyne Therapeutics (NASDAQ:DYN) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $35.00 price objective on the stock, down from their previous price objective of $43.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.16% from the stock’s current price.

Several other brokerages have also weighed in on DYN. Guggenheim lifted their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Stifel Nicolaus increased their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley boosted their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.60.

Dyne Therapeutics Price Performance

NASDAQ:DYN opened at $32.36 on Thursday. The company has a 50 day moving average price of $36.92 and a 200-day moving average price of $34.66. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $47.45. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -8.15 and a beta of 1.05.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, sell-side analysts anticipate that Dyne Therapeutics will post -2.96 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, Director Dirk Kersten sold 23,671 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total transaction of $836,769.85. Following the completion of the sale, the director now owns 99,652 shares of the company’s stock, valued at approximately $3,522,698.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dirk Kersten sold 23,671 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total transaction of $836,769.85. Following the transaction, the director now owns 99,652 shares in the company, valued at approximately $3,522,698.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard William Scalzo sold 1,390 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the sale, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at $3,405,524.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,975 shares of company stock valued at $5,693,789. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DYN. AQR Capital Management LLC increased its holdings in shares of Dyne Therapeutics by 4.3% during the 2nd quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after buying an additional 352 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after acquiring an additional 669 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Dyne Therapeutics by 24.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company’s stock valued at $123,000 after purchasing an additional 709 shares during the period. Amalgamated Bank lifted its stake in shares of Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after purchasing an additional 796 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Dyne Therapeutics by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 15,403 shares of the company’s stock worth $437,000 after purchasing an additional 857 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.