Investment analysts at Wall Street Zen have downgraded the stock rating of Dyne Therapeutics (NASDAQ:DYN) from “hold” to “sell” in a note released to investors on Sunday. This change reflects a cautious outlook amid recent fluctuations in the company’s stock performance. Other research firms have also weighed in, signaling a mixed sentiment regarding the company’s future.
On December 15, 2023, Evercore ISI reduced its target price for Dyne Therapeutics shares from $38.00 to $36.00, maintaining an “outperform” rating. Conversely, HC Wainwright raised its price objective significantly from $46.00 to $60.00, assigning a “buy” rating. Meanwhile, Tudor Pickering set a price target of $23.00, and Chardan Capital reaffirmed a “buy” rating with a target price of $38.00. Additionally, Stifel Nicolaus increased its target from $36.00 to $39.00, maintaining a “buy” rating.
Research analysts have generally given Dyne Therapeutics a positive outlook. According to data from MarketBeat.com, three analysts have rated the stock as a Strong Buy, thirteen have issued a Buy rating, two have given a Hold rating, and one has assigned a Sell rating. The average rating is classified as a “Moderate Buy,” with an average target price of $38.47.
Recent Earnings Report and Market Response
Dyne Therapeutics released its quarterly earnings results on November 5, 2023, reporting an earnings per share (EPS) of ($0.76), which surpassed the consensus estimate of ($0.81) by $0.05. Analysts anticipate that the company will report an EPS of ($3.44) for the current year. The stock’s recent performance reflects a decline of 1.5%, indicating investors’ reactions to the downgrade and mixed analyst opinions.
Institutional Investor Activity
Institutional trading has also influenced Dyne Therapeutics’ stock dynamics. Several firms have adjusted their positions in the company recently. Darwin Wealth Management LLC increased its holdings by 0.5% during the third quarter, now owning 173,517 shares valued at $2,195,000 after acquiring an additional 861 shares. Similarly, Ameritas Investment Partners Inc. boosted its position by 11.1%, owning 9,582 shares worth $91,000 after purchasing an additional 955 shares.
Other notable institutional investors include Creative Planning, which increased its holdings by 6.8%, and Mirae Asset Global Investments Co. Ltd., which raised its position by 25.3%. Currently, approximately 96.68% of Dyne Therapeutics’ stock is owned by hedge funds and institutional investors.
Dyne Therapeutics, founded in 2019 by Flagship Pioneering, is a clinical-stage biotechnology company focusing on localized gene regulation therapies for serious rare diseases. Its proprietary FORCE (Facilitated Orthogonal Receptor-mediated Cargo Evaluation) platform aims to deliver oligonucleotide and gene therapy modalities specifically to skeletal and respiratory muscles. The company’s lead programs are concentrated on conditions such as Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1), and facioscapulohumeral muscular dystrophy (FSHD).
As Dyne Therapeutics navigates this challenging landscape, investors will be closely monitoring both market trends and upcoming developments from the company.
