Royal Bank of Canada Reaffirms Outperform Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They presently have a $45.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 189.58% from the company’s previous close.

DYN has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $35.00 in a report on Thursday, October 24th. StockNews.com cut Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.91.

Dyne Therapeutics Stock Up 3.6 %

Shares of Dyne Therapeutics stock opened at $15.54 on Tuesday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -4.37 and a beta of 1.16. The stock’s 50-day simple moving average is $26.49 and its 200-day simple moving average is $33.73. Dyne Therapeutics has a 52 week low of $14.79 and a 52 week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $3,573,433.36. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jason P. Rhodes sold 782 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total value of $25,884.20. Following the completion of the sale, the director now owns 15,962 shares in the company, valued at approximately $528,342.20. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,071 shares of company stock valued at $606,476. 20.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DYN. FMR LLC boosted its holdings in shares of Dyne Therapeutics by 69.7% in the third 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 lifted its holdings in shares of Dyne Therapeutics by 47.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after buying an additional 2,189,339 shares during the period. State Street Corp grew 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 worth $130,816,000 after buying an additional 440,890 shares in the last quarter. RTW Investments LP increased its stake in shares of Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after buying an additional 431,503 shares during the period. Finally, RA Capital Management L.P. raised its holdings in shares of Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after acquiring an additional 331,940 shares in the last quarter. 96.68% of the stock is currently owned by institutional investors.

About Dyne Therapeutics

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.