Dyne Therapeutics (NASDAQ:DYN) Price Target Raised to $52.00 at Morgan Stanley

Dyne Therapeutics (NASDAQ:DYN) had its target price boosted by Morgan Stanley from $48.00 to $52.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Oppenheimer reissued an outperform rating and issued a $47.00 target price on shares of Dyne Therapeutics in a research report on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on Dyne Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a research note on Monday, May 20th. Chardan Capital upped their target price on Dyne Therapeutics from $31.00 to $42.00 and gave the company a buy rating in a research report on Tuesday, May 21st. Finally, HC Wainwright boosted their price target on Dyne Therapeutics from $48.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $50.60.

Dyne Therapeutics Stock Performance

NASDAQ DYN opened at $45.39 on Wednesday. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $46.39. The stock has a market cap of $3.97 billion, a PE ratio of -11.43 and a beta of 1.07. The firm has a 50-day moving average of $38.90 and a 200-day moving average of $30.84.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. As a group, analysts predict that Dyne Therapeutics will post -3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Richard William Scalzo sold 1,590 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $30.23, for a total value of $48,065.70. Following the completion of the transaction, the senior vice president now owns 115,105 shares of the company’s stock, valued at approximately $3,479,624.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Susanna Gatti High sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $30.24, for a total value of $2,419,200.00. Following the completion of the transaction, the chief operating officer now owns 154,062 shares in the company, valued at approximately $4,658,834.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Richard William Scalzo sold 1,590 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.23, for a total transaction of $48,065.70. Following the sale, the senior vice president now directly owns 115,105 shares in the company, valued at $3,479,624.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,102 shares of company stock valued at $6,273,351. 20.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently modified their holdings of the business. Algert Global LLC raised its position in shares of Dyne Therapeutics by 255.1% during the second quarter. Algert Global LLC now owns 97,370 shares of the company’s stock worth $3,436,000 after acquiring an additional 69,947 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Dyne Therapeutics by 96.2% during the second quarter. The Manufacturers Life Insurance Company now owns 126,244 shares of the company’s stock worth $4,455,000 after buying an additional 61,902 shares during the period. AQR Capital Management LLC raised its stake in Dyne Therapeutics by 4.3% during the second quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after buying an additional 352 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Dyne Therapeutics in the second quarter valued at $3,529,000. Finally, First Light Asset Management LLC boosted its position in Dyne Therapeutics by 261.0% during the second quarter. First Light Asset Management LLC now owns 382,433 shares of the company’s stock valued at $13,496,000 after acquiring an additional 276,485 shares during the last quarter. 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.