Dyne Therapeutics (NASDAQ:DYN) Given New $30.00 Price Target at Royal Bank Of Canada

Dyne Therapeutics (NASDAQ:DYN) had its price target hoisted by Royal Bank Of Canada from $23.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial upgraded shares of Dyne Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $31.00 to $35.00 in a research report on Monday, August 25th. Stifel Nicolaus reduced their price objective on shares of Dyne Therapeutics from $66.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Chardan Capital decreased their target price on shares of Dyne Therapeutics from $50.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. JPMorgan Chase & Co. cut their target price on Dyne Therapeutics from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.53.

Dyne Therapeutics Stock Performance

Shares of Dyne Therapeutics stock traded up $0.16 on Thursday, hitting $18.36. The stock had a trading volume of 3,622,526 shares, compared to its average volume of 2,656,315. The company has a quick ratio of 16.83, a current ratio of 16.83 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $15.65 and its two-hundred day moving average is $12.75. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $35.68. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -4.76 and a beta of 1.15.

Insiders Place Their Bets

In related news, CEO John Cox sold 2,640 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $13.41, for a total transaction of $35,402.40. Following the sale, the chief executive officer directly owned 199,539 shares in the company, valued at approximately $2,675,817.99. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the company. Darwin Wealth Management LLC increased its holdings in Dyne Therapeutics by 0.5% during the 3rd quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock worth $2,195,000 after acquiring an additional 861 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Dyne Therapeutics by 11.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company’s stock valued at $91,000 after acquiring an additional 955 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Dyne Therapeutics by 25.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,500 shares of the company’s stock worth $70,000 after purchasing an additional 1,109 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Dyne Therapeutics by 5.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company’s stock worth $237,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Dyne Therapeutics by 9.2% in the first quarter. Arizona State Retirement System now owns 17,501 shares of the company’s stock worth $183,000 after purchasing an additional 1,481 shares during the last quarter. 96.68% of the stock is currently owned by 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.