Chardan Capital Reiterates “Buy” Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a report issued on Tuesday,Benzinga reports. They presently have a $38.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 71.17% from the company’s current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada upped their price target on Dyne Therapeutics from $23.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Sanford C. Bernstein set a $23.00 target price on shares of Dyne Therapeutics in a report on Tuesday. Cowen restated a “buy” rating on shares of Dyne Therapeutics in a research report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Finally, HC Wainwright boosted their price target on shares of Dyne Therapeutics from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Dyne Therapeutics Price Performance

NASDAQ:DYN opened at $22.20 on Tuesday. The business’s 50-day simple moving average is $18.65 and its two-hundred day simple moving average is $14.09. Dyne Therapeutics has a 52 week low of $6.36 and a 52 week high of $29.72. The stock has a market cap of $3.17 billion, a PE ratio of -6.07 and a beta of 1.30. The company has a quick ratio of 13.47, a current ratio of 13.47 and a debt-to-equity ratio of 0.14.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.05. As a group, analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. increased its holdings in shares of Dyne Therapeutics by 52.2% in the 1st quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company’s stock worth $101,613,000 after buying an additional 3,333,248 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Dyne Therapeutics in the 2nd quarter valued at about $30,378,000. Braidwell LP grew its position in Dyne Therapeutics by 431.6% in the first quarter. Braidwell LP now owns 3,621,344 shares of the company’s stock worth $37,879,000 after acquiring an additional 2,940,162 shares in the last quarter. Marshall Wace LLP increased its stake in Dyne Therapeutics by 572.9% during the third quarter. Marshall Wace LLP now owns 3,013,377 shares of the company’s stock worth $38,119,000 after acquiring an additional 2,565,570 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Dyne Therapeutics by 27.6% during the third quarter. Vanguard Group Inc. now owns 9,760,414 shares of the company’s stock valued at $123,469,000 after purchasing an additional 2,109,257 shares during the period. 96.68% of the stock is owned by hedge funds and other 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.