Decibel Therapeutics (NASDAQ:DBTX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Decibel Therapeutics (NASDAQ:DBTX) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Decibel Therapeutics is a clinical-stage biotechnology company. It engages in discovering and developing transformative treatments to restore and improve hearing and balance. Decibel Therapeutics is based in BOSTON. “

DBTX has been the subject of a number of other research reports. Robert W. Baird started coverage on shares of Decibel Therapeutics in a report on Thursday, October 21st. They set an outperform rating and a $21.00 price objective for the company. SVB Leerink reduced their target price on shares of Decibel Therapeutics from $15.00 to $14.00 and set an outperform rating for the company in a research note on Wednesday, November 10th. Citigroup reduced their target price on shares of Decibel Therapeutics from $29.00 to $20.00 and set a buy rating for the company in a research note on Thursday, November 11th. Jonestrading initiated coverage on shares of Decibel Therapeutics in a research note on Thursday, December 2nd. They issued a buy rating and a $25.00 target price for the company. Finally, HC Wainwright initiated coverage on shares of Decibel Therapeutics in a research note on Monday, November 15th. They issued a buy rating and a $23.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $23.25.

NASDAQ DBTX opened at $4.66 on Tuesday. Decibel Therapeutics has a 52-week low of $4.28 and a 52-week high of $24.39. The company has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $7.10.

Decibel Therapeutics (NASDAQ:DBTX) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). On average, equities research analysts anticipate that Decibel Therapeutics will post -1.91 EPS for the current year.

In other news, insider Anna Trask sold 5,291 shares of the firm’s stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $6.37, for a total value of $33,703.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional investors have recently made changes to their positions in the business. Morgan Stanley bought a new stake in Decibel Therapeutics during the first quarter valued at approximately $84,000. O Shaughnessy Asset Management LLC bought a new stake in Decibel Therapeutics during the second quarter valued at approximately $110,000. Renaissance Technologies LLC bought a new stake in Decibel Therapeutics during the second quarter valued at approximately $137,000. Bank of New York Mellon Corp lifted its position in Decibel Therapeutics by 124.0% during the second quarter. Bank of New York Mellon Corp now owns 27,310 shares of the company’s stock valued at $235,000 after purchasing an additional 15,117 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Decibel Therapeutics during the second quarter valued at approximately $258,000. Institutional investors and hedge funds own 69.22% of the company’s stock.

Decibel Therapeutics Company Profile

Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.

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