Piper Sandler Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $48.00

Dyne Therapeutics (NASDAQ:DYN) had its target price decreased by stock analysts at Piper Sandler from $53.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 264.46% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Chardan Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Friday, January 10th. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, HC Wainwright dropped their price target on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Dyne Therapeutics has an average rating of “Moderate Buy” and an average target price of $48.64.

Dyne Therapeutics Stock Down 4.5 %

DYN stock opened at $13.17 on Friday. The company’s fifty day simple moving average is $17.19 and its 200 day simple moving average is $27.93. Dyne Therapeutics has a 12-month low of $13.05 and a 12-month high of $47.45. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -3.70 and a beta of 1.11.

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

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction that occurred 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 transaction, the senior vice president now owns 127,078 shares of the company’s stock, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oxana Beskrovnaya sold 2,334 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $65,632.08. Following the completion of the transaction, the insider now directly owns 201,685 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 6,387 shares of company stock valued at $142,789 over the last ninety days. 20.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently made changes to their positions in DYN. State of New Jersey Common Pension Fund D purchased a new stake in Dyne Therapeutics during the third quarter worth about $1,588,000. Jennison Associates LLC grew its position in shares of Dyne Therapeutics by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after acquiring an additional 19,730 shares during the period. abrdn plc purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $608,000. RA Capital Management L.P. raised its holdings in shares of Dyne Therapeutics by 5.5% in the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after purchasing an additional 331,940 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Dyne Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other 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.