JPMorgan Downgrades Dyne Therapeutics (DYN) to Neutral

JPMorgan analyst Tessa Romero downgraded Dyne Therapeutics (NASDAQ: DYN) from Overweight to Neutral with a price target of $35.00 (from $43.00).

The analyst comments: "We are downgrading our rating on DYN shares to Neutral from Overweight. While shares have recently underperformed since the Sept disclosures, shares are still up ~150% YTD vs. the broader biotech market (+9% NBI and +10% XBI). Ultimately, we wonder if the additional results from the phase 1/2 ACHIEVE trial evaluating DYNE-101 in myotonic dystrophy type 1 (DM1) expected by the end of this year would fundamentally move the likelihood of success materially higher at current levels and unlock additional value in the near term; we reflect a 60% probability of success for DYNE-101 in DM1 which drives our valuation."

For an analyst ratings summary and ratings history on Dyne Therapeutics click here. For more ratings news on Dyne Therapeutics click here.

Shares of Dyne Therapeutics closed at $32.36 yesterday.

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