Dyne Therapeutics (NASDAQ:DYN) Downgraded by JPMorgan Chase & Co.

Dyne Therapeutics (NASDAQ:DYN) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to 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 price target would suggest a potential upside of 8.16% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Guggenheim boosted their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Oppenheimer restated an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Morgan Stanley lifted their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and set a $53.00 price objective on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, Stifel Nicolaus raised their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.60.

Dyne Therapeutics Trading Down 3.1 %

Shares of NASDAQ DYN opened at $32.36 on Thursday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -8.15 and a beta of 1.05. Dyne Therapeutics has a 12-month low of $6.40 and a 12-month high of $47.45. The firm’s 50-day moving average price is $36.92 and its 200-day moving average price is $34.66.

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

Insiders Place Their Bets

In related news, Director Dirk Kersten sold 79,411 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO John Cox purchased 32,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. The trade was a -100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares in the company, valued at $8,533,929.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,975 shares of company stock valued at $5,693,789. 20.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Dyne Therapeutics by 24.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company’s stock worth $123,000 after buying an additional 709 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at $62,000. Creative Planning increased its stake in shares of Dyne Therapeutics by 41.5% in the third quarter. Creative Planning now owns 10,605 shares of the company’s stock worth $381,000 after acquiring an additional 3,111 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Dyne Therapeutics by 21.4% during the third quarter. Handelsbanken Fonder AB now owns 19,300 shares of the company’s stock worth $693,000 after purchasing an additional 3,400 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Dyne Therapeutics by 198.9% during the third quarter. SG Americas Securities LLC now owns 18,344 shares of the company’s stock valued at $659,000 after purchasing an additional 12,207 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.