Dyne hits four-month high as Guggenheim starts with Buy
Jan. 26, 2023 12:29 PM ETDyne Therapeutics, Inc. (DYN)RNABy: Dulan Lokuwithana, SA News Editor
- The shares of Dyne Therapeutics (NASDAQ:DYN) reached the highest level since September on Thursday as Guggenheim launched its coverage with a Buy rating and a $33 price target citing the biotech’s potential in muscular diseases.
- The analyst Debjit Chattopadhyay highlights Dyne’s (DYN) FORCE platform with which the company develops oligonucleotide therapeutics designed to overcome limitations in drug delivery to muscle tissues.
- Chattopadhyay also cites the upcoming readouts from Dyne’s (DYN) ACHIEVE and DELIVER clinical trials for DYNE-101 and DYNE-251 for muscle diseases myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD), respectively.
- If the updates expected in H2 2023 “navigate scrutiny successfully,” “DYN will be well-positioned to capture a significant share of the multi-billion-dollar TAM across DM1, DMD, and” facioscapulohumeral muscular dystrophy (FSHD), the analyst wrote.
- Read: A positive readout from Avidity Biosciences (RNA) for its DM1 candidate AOC 1001 “somewhat validated/de-risked its oligonucleotide approach,” Seeking Alpha contributor Bret Jensen wrote about Dyne (DYN) with a Hold rating on the stock recently.