Dyne Therapeutics (NASDAQ:DYN) Given Outperform Rating at Royal Bank of Canada

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $45.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 189.58% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Baird R W raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research report on Friday, January 10th. Robert W. Baird assumed coverage on Dyne Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $43.00 to $35.00 in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Trading Up 3.6 %

Shares of NASDAQ:DYN opened at $15.54 on Tuesday. The company has a market capitalization of $1.58 billion, a PE ratio of -4.37 and a beta of 1.16. Dyne Therapeutics has a 12-month low of $14.79 and a 12-month high of $47.45. The business’s fifty day simple moving average is $26.49 and its 200-day simple moving average is $33.73.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Research analysts predict that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,334 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 $65,632.08. Following the completion of the transaction, the insider now directly owns 201,685 shares of the company’s stock, valued at $5,671,382.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason P. Rhodes sold 782 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total transaction of $25,884.20. Following the sale, the director now directly owns 15,962 shares in the company, valued at $528,342.20. This trade represents a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,071 shares of company stock worth $606,476 over the last three months. Company insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Dyne Therapeutics by 23.7% in the second quarter. Rhumbline Advisers now owns 121,595 shares of the company’s stock valued at $4,291,000 after buying an additional 23,266 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Dyne Therapeutics in the 2nd quarter worth $676,000. Arizona State Retirement System increased its holdings in Dyne Therapeutics by 26.9% in the 2nd quarter. Arizona State Retirement System now owns 15,070 shares of the company’s stock worth $532,000 after acquiring an additional 3,199 shares in the last quarter. American Century Companies Inc. acquired a new position in Dyne Therapeutics during the second quarter worth $228,000. Finally, Renaissance Technologies LLC purchased a new position in Dyne Therapeutics during the second quarter valued at $4,447,000. 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.