Dyne Therapeutics (DYN) Climbs 11.8% on Triple-Digit Price Target Upgrade

Dyne Therapeutics Inc. (NASDAQ:DYN) is one of the 10 Stocks Investors Are Watching.

Dyne Therapeutics saw its share prices jump by 11.81 percent on Tuesday to close at $19.78 apiece, after an investment firm reiterated a triple-digit upside potential for its stock.

In a market report, Jefferies reiterated its “buy” issuance for Dyne Therapeutics Inc. (NASDAQ:DYN), alongside a $50 price target. The figure represented a 153 percent upside potential from its latest closing price.

Jefferies said that the rating reflected its confidence for the accelerated approval of its therapy candidate for DM1.

On Monday, Dyne Therapeutics Inc. (NASDAQ:DYN) announced that it would officially initiate the third phase of its trial to study the efficacy of zeleciment basivarsen in patients with DM1, following the successful second phase study.

Called the Harmonia trial, the study would enroll 150 participants aged 16 and above, who will be randomized 1:1 to receive 6.8 mg/kg of z-basivarsen or placebo every eight weeks (Q8W).

The study aims to measure the improvement in five times “sit-to-stand” test after 49 weeks of therapy, versus their starting point.

“Harmonia is a larger and longer-term study utilizing a clinically meaningful functional measure as the primary endpoint. Harmonia was designed to reinforce the best-in-class potential of z-basivarsen based on the differentiated capabilities of our Force platform to deliver therapeutics to a broad range of muscle systems as well as the CNS,” Dyne Therapeutics Inc. (NASDAQ:DYN) Chief Medical Officer Doug Kerr said.

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