Piper Sandler Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $48.00

Dyne Therapeutics (NASDAQ:DYN) had its price objective lowered by investment analysts at Piper Sandler from $53.00 to $48.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 264.46% from the stock’s previous close.

A number of other research firms have also issued reports on DYN. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright decreased their price target on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Chardan Capital reissued a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

Dyne Therapeutics Stock Down 4.5 %

Shares of NASDAQ:DYN opened at $13.17 on Friday. The company has a 50-day moving average price of $17.19 and a two-hundred day moving average price of $27.93. Dyne Therapeutics has a twelve month low of $13.05 and a twelve month high of $47.45. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.70 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the completion of the sale, the senior vice president now directly owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,387 shares of company stock valued at $142,789. Insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in Dyne Therapeutics during the third quarter valued at about $34,000. Point72 DIFC Ltd bought a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $36,000. US Bancorp DE lifted its stake in shares of Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock valued at $49,000 after acquiring an additional 1,212 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Dyne Therapeutics during the 4th quarter valued at about $50,000. Finally, KBC Group NV grew its position in Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after acquiring an additional 751 shares during the last quarter. Institutional investors 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.