Chardan Capital Reiterates Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by equities research analysts at Chardan Capital in a research report issued on Tuesday,Benzinga reports. They currently have a $50.00 target price on the stock. Chardan Capital’s price target would indicate a potential upside of 334.90% from the stock’s current price.

Other analysts also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Oppenheimer began coverage on Dyne Therapeutics in a research note on Monday, June 2nd. They set an “outperform” rating and a $34.00 price objective on the stock. Scotiabank began coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, HC Wainwright cut their target price on Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.93.

Dyne Therapeutics Stock Down 16.8%

DYN traded down $2.32 during trading on Tuesday, hitting $11.50. The company’s stock had a trading volume of 1,211,013 shares, compared to its average volume of 2,389,205. The business’s 50 day simple moving average is $11.33 and its 200-day simple moving average is $14.89. The firm has a market cap of $1.31 billion, a PE ratio of -3.23 and a beta of 1.16. Dyne Therapeutics has a one year low of $6.36 and a one year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Equities research analysts expect that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Dyne Therapeutics by 4.2% in the first quarter. Rhumbline Advisers now owns 133,627 shares of the company’s stock valued at $1,398,000 after acquiring an additional 5,383 shares in the last quarter. Optimize Financial Inc acquired a new position in shares of Dyne Therapeutics in the first quarter valued at approximately $154,000. Exome Asset Management LLC purchased a new position in shares of Dyne Therapeutics during the first quarter valued at approximately $2,703,000. Caxton Associates LLP purchased a new stake in Dyne Therapeutics in the 1st quarter worth approximately $157,000. Finally, Voleon Capital Management LP purchased a new position in shares of Dyne Therapeutics during the 1st quarter worth $624,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Company Profile

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.