Dyne Therapeutics (NASDAQ:DYN) has been downgraded from a “hold” to a “sell” rating by investment analysts at Wall Street Zen, as outlined in a note issued to investors on Sunday. This adjustment comes amid a broader reassessment by various research firms regarding the company’s stock performance and future potential.
Recent Analyst Ratings and Price Targets
The downgrade by Wall Street Zen is not an isolated incident, as multiple firms have recently updated their evaluations of Dyne Therapeutics. On December 15, 2023, Evercore ISI reduced its target price for the company’s shares from $38.00 to $36.00, while maintaining an “outperform” rating. In contrast, HC Wainwright has shown optimism by raising its price objective from $46.00 to $60.00 and assigning a “buy” rating in a report dated December 8, 2023.
Tudor Pickering set a price objective of $23.00 for Dyne Therapeutics, while Chardan Capital reaffirmed a “buy” rating with a target price of $38.00 on December 9, 2023. Stifel Nicolaus also increased its target from $36.00 to $39.00, maintaining a “buy” rating in a report released on December 11, 2023.
Overall, the consensus among analysts includes three ratings of “Strong Buy,” thirteen “Buy,” two “Hold,” and one “Sell.” According to data from MarketBeat.com, Dyne Therapeutics currently holds an average rating of “Moderate Buy” with a target price of approximately $38.47.
Financial Performance and Institutional Trading Activity
Dyne Therapeutics released its quarterly earnings results on November 5, 2023, reporting an earnings per share (EPS) of ($0.76). This exceeded the consensus estimate of ($0.81) by $0.05. Analysts predict that the company will post an EPS of ($3.44) for the current year.
In the realm of institutional trading, several investors have modified their holdings in Dyne Therapeutics. Darwin Wealth Management LLC increased its stake by 0.5% during the third quarter, now owning 173,517 shares valued at $2.2 million. Similarly, Ameritas Investment Partners Inc. raised its position by 11.1% in the second quarter, now holding 9,582 shares worth $91,000.
Creative Planning boosted its stake by 6.8% in the third quarter, resulting in ownership of 15,527 shares valued at $196,000. Mirae Asset Global Investments Co. Ltd. increased its holdings by 25.3%, now owning 5,500 shares worth $70,000. Caxton Associates LLP also grew its stake by 10.9%, bringing its total to 16,599 shares valued at $158,000. Approximately 96.68% of Dyne Therapeutics stock is currently held by hedge funds and other institutional investors.
Dyne Therapeutics operates as a clinical-stage biotechnology company focused on localized gene regulation therapies for serious rare diseases. Utilizing its proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform, the company aims for targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s key programs target Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1), and facioscapulohumeral muscular dystrophy (FSHD), with ongoing preclinical and early clinical studies assessing safety and efficacy.
As Dyne Therapeutics navigates these challenges and opportunities, the market will closely monitor its developments and analysts’ perspectives in the coming months.
