HC Wainwright Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $46.00

Dyne Therapeutics (NASDAQ:DYN) had its price target decreased by equities researchers at HC Wainwright from $55.00 to $46.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 249.28% from the company’s previous close.

A number of other analysts have also recently weighed in on DYN. Chardan Capital restated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Friday, January 10th. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Finally, Robert W. Baird started coverage on Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.09.

Dyne Therapeutics Stock Performance

NASDAQ DYN opened at $13.17 on Friday. Dyne Therapeutics has a one year low of $13.05 and a one year high of $47.45. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.70 and a beta of 1.11. The company’s 50-day simple moving average is $17.19 and its two-hundred day simple moving average is $27.93.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the completion of the transaction, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oxana Beskrovnaya sold 2,334 shares of the stock in a transaction dated 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 represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,387 shares of company stock valued at $142,789. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DYN. FMR LLC grew its holdings in Dyne Therapeutics by 69.7% during the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after acquiring an additional 3,707,734 shares during the period. Janus Henderson Group PLC boosted its position in Dyne Therapeutics by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock worth $173,808,000 after purchasing an additional 566,146 shares in the last quarter. RTW Investments LP grew its stake 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 worth $244,926,000 after purchasing an additional 431,503 shares during the period. RA Capital Management L.P. increased its holdings 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 in the last quarter. Finally, State Street Corp lifted its stake in shares of Dyne Therapeutics by 13.8% in 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. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.