Investment analysts at Wall Street Zen have downgraded shares of Dyne Therapeutics (NASDAQ:DYN) from a “hold” rating to a “sell” rating, as indicated in a note to investors issued on Sunday. This change reflects a growing caution among analysts regarding the company’s market performance.
Other research firms have also provided recent insights into Dyne Therapeutics. Evercore ISI reduced their target price from $38.00 to $36.00, maintaining an “outperform” rating. Meanwhile, HC Wainwright raised their price objective from $46.00 to $60.00, issuing a “buy” rating in a report on December 8, 2023. In contrast, Tudor Pickering assigned a target price of $23.00 in a report released on December 9, 2023. Chardan Capital also reaffirmed a “buy” rating with a target price of $38.00 on the same day. Stifel Nicolaus increased their price target from $36.00 to $39.00, maintaining a “buy” rating as well.
Analyst ratings for Dyne Therapeutics show a mix of perspectives. Currently, three analysts have rated the stock as a Strong Buy, thirteen have given it a Buy rating, two have issued a Hold rating, and one has assigned a Sell rating. According to data from MarketBeat.com, the average rating for Dyne Therapeutics stands at “Moderate Buy,” with an average target price of $38.47.
Quarterly Financial Performance
Dyne Therapeutics released its quarterly earnings results on November 5, 2023. The company reported an earnings per share (EPS) of ($0.76), which exceeded the consensus estimate of ($0.81) by $0.05. Analysts predict that Dyne Therapeutics will report an EPS of ($3.44) for the current year, indicating ongoing challenges in achieving profitability.
Institutional Trading Activity
Recent trading activity indicates a strategic shift among institutional investors regarding Dyne Therapeutics. Darwin Wealth Management LLC increased its holdings by 0.5% during the third quarter, now owning 173,517 shares valued at approximately $2.2 million. Ameritas Investment Partners Inc. raised their position by 11.1%, acquiring an additional 955 shares to reach 9,582 shares worth $91,000.
Creative Planning also expanded its stake by 6.8%, now holding 15,527 shares valued at $196,000. Mirae Asset Global Investments Co. Ltd. boosted its position by 25.3% during the same quarter, increasing its holdings to 5,500 shares worth $70,000. Additionally, Caxton Associates LLP grew its holdings by 10.9%, now owning 16,599 shares valued at $158,000.
Approximately 96.68% of Dyne Therapeutics’ stock is currently held by hedge funds and institutional investors, signaling significant institutional interest.
Company Overview
Founded in 2019 by Flagship Pioneering, Dyne Therapeutics is a clinical-stage biotechnology company focusing on localized gene regulation therapies for serious rare diseases. The company utilizes its proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform for targeted delivery of oligonucleotide and gene therapy modalities, primarily aimed at treating conditions such as Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1), and facioscapulohumeral muscular dystrophy (FSHD).
Dyne’s product candidates are currently undergoing preclinical and early clinical studies to evaluate their safety, tolerability, and tissue specificity. The company’s innovative approach combines engineered ligands with therapeutic payloads to enhance cellular uptake in muscle tissues.
As the market continues to respond to Dyne Therapeutics’ evolving landscape, investors and analysts will be closely monitoring the company’s performance and strategic developments in the coming months.
