Royal Bank Of Canada Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $23.00

Dyne Therapeutics (NASDAQ:DYN) had its target price cut by Royal Bank Of Canada from $25.00 to $23.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also commented on DYN. Jones Trading started coverage on shares of Dyne Therapeutics in a report on Thursday, June 26th. They set a “buy” rating and a $30.00 price target on the stock. Robert W. Baird cut their price target on shares of Dyne Therapeutics from $46.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, June 18th. HC Wainwright cut their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Raymond James Financial reiterated an “outperform” rating and set a $31.00 price target (down previously from $37.00) on shares of Dyne Therapeutics in a report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

Dyne Therapeutics Stock Performance

NASDAQ DYN opened at $9.85 on Tuesday. The firm’s fifty day moving average price is $10.75 and its two-hundred day moving average price is $11.52. The stock has a market cap of $1.40 billion, a PE ratio of -2.55 and a beta of 1.08. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $47.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 20.35 and a current ratio of 16.83.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.02. On average, equities analysts expect that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In related news, CEO John Cox acquired 100,000 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were purchased at an average price of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the acquisition, the chief executive officer owned 242,179 shares of the company’s stock, valued at approximately $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.14% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Dyne Therapeutics by 168.1% during the second quarter. CWM LLC now owns 3,030 shares of the company’s stock worth $29,000 after acquiring an additional 1,900 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Dyne Therapeutics by 378.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock worth $32,000 after acquiring an additional 2,446 shares in the last quarter. Quarry LP bought a new stake in shares of Dyne Therapeutics during the first quarter worth about $47,000. GF Fund Management CO. LTD. bought a new stake in shares of Dyne Therapeutics during the fourth quarter worth about $50,000. Finally, E Fund Management Co. Ltd. increased its position in shares of Dyne Therapeutics by 16.2% during the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company’s stock worth $144,000 after acquiring an additional 1,923 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.