Oppenheimer Reiterates “Outperform” Rating for Dyne Therapeutics (NASDAQ:DYN)

Oppenheimer restated their outperform rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Monday, Benzinga reports. Oppenheimer currently has a $47.00 price target on the stock.

DYN has been the subject of several other reports. Morgan Stanley assumed coverage on Dyne Therapeutics in a report on Tuesday, April 30th. They issued an overweight rating and a $40.00 price target for the company. Piper Sandler increased their target price on Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Chardan Capital reissued a buy rating and set a $31.00 price target on shares of Dyne Therapeutics in a research report on Monday. HC Wainwright reaffirmed a buy rating and issued a $36.00 price objective on shares of Dyne Therapeutics in a research report on Friday, May 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $37.75.

Dyne Therapeutics Stock Performance

DYN stock opened at $25.95 on Monday. The company has a 50 day moving average price of $26.47 and a two-hundred day moving average price of $18.93. The stock has a market capitalization of $2.27 billion, a P/E ratio of -6.54 and a beta of 1.00. Dyne Therapeutics has a one year low of $6.40 and a one year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.17). Research analysts forecast that Dyne Therapeutics will post -3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jason P. Rhodes sold 177,906 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $23.89, for a total value of $4,250,174.34. Following the completion of the sale, the director now directly owns 7,148,211 shares of the company’s stock, valued at $170,770,760.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dyne Therapeutics news, Director Jason P. Rhodes sold 248,219 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $23.72, for a total transaction of $5,887,754.68. Following the completion of the transaction, the director now directly owns 903,527 shares in the company, valued at $21,431,660.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason P. Rhodes sold 177,906 shares of Dyne Therapeutics stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $23.89, for a total transaction of $4,250,174.34. Following the transaction, the director now directly owns 7,148,211 shares of the company’s stock, valued at $170,770,760.79. The disclosure for this sale can be found here. Insiders sold 1,875,432 shares of company stock valued at $44,368,530 over the last quarter. Insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Dyne Therapeutics during the first quarter worth $28,000. China Universal Asset Management Co. Ltd. increased its position in Dyne Therapeutics by 355.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock worth $94,000 after purchasing an additional 5,541 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dyne Therapeutics by 58.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Dyne Therapeutics by 95.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock worth $83,000 after purchasing an additional 4,552 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Dyne Therapeutics during the 4th quarter valued at about $172,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

About Dyne Therapeutics

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.