Royal Bank Of Canada Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $30.00

Dyne Therapeutics (NASDAQ:DYN) had its price target reduced by Royal Bank Of Canada from $35.00 to $30.00 in a research report released on Wednesday, Marketbeat.com reports. They currently have an outperform rating on the stock.

DYN has been the subject of several other reports. Cantor Fitzgerald began coverage on Dyne Therapeutics in a research report on Thursday, July 23rd. They set an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. TD Cowen began coverage on Dyne Therapeutics in a report on Friday, June 26th. They issued a “buy” rating for the company. Robert W. Baird reduced their price objective on Dyne Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Evercore set a $33.00 price objective on Dyne Therapeutics in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Dyne Therapeutics Stock Down 1.1%

Dyne Therapeutics stock opened at $18.21 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. Dyne Therapeutics has a 1-year low of $11.92 and a 1-year high of $27.31. The company has a market cap of $3.40 billion, a PE ratio of -5.47 and a beta of 1.08. The stock’s 50 day moving average price is $24.58 and its 200 day moving average price is $20.53.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, sell-side analysts predict that Dyne Therapeutics will post -3.51 EPS for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, CFO Erick Lucera sold 2,362 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the completion of the transaction, the chief financial officer directly owned 121,563 shares in the company, valued at approximately $2,476,238.31. The trade was a 1.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas Kerr sold 3,745 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider owned 163,854 shares of the company’s stock, valued at $3,989,844.90. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 4,150,974 shares of company stock valued at $99,697,629 over the last quarter. Insiders own 9.46% of the company’s stock.

Institutional Trading of Dyne Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in Dyne Therapeutics in the 1st quarter valued at about $26,000. Strs Ohio purchased a new position in shares of Dyne Therapeutics during the 4th quarter worth about $51,000. Allworth Financial LP acquired a new stake in shares of Dyne Therapeutics in the second quarter worth approximately $62,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Dyne Therapeutics in the fourth quarter worth approximately $84,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in Dyne Therapeutics by 102.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock valued at $95,000 after purchasing an additional 2,465 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.