Decibel Therapeutics (NASDAQ:DBTX) Receives Buy Rating from HC Wainwright

Decibel Therapeutics (NASDAQ:DBTX – Get Rating)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock. HC Wainwright also issued estimates for Decibel Therapeutics’ FY2027 earnings at ($0.52) EPS.

Several other research analysts have also issued reports on the company. SVB Securities lowered Decibel Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $7.00 to $2.00 in a research report on Wednesday. SVB Leerink lowered their target price on Decibel Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Decibel Therapeutics Stock Performance

Shares of DBTX opened at $3.73 on Wednesday. Decibel Therapeutics has a 52 week low of $1.61 and a 52 week high of $5.78. The stock has a market capitalization of $93.14 million, a price-to-earnings ratio of -1.57 and a beta of -0.02. The stock has a fifty day moving average of $3.65 and a 200-day moving average of $3.48.

Institutional Trading of Decibel Therapeutics

A number of large investors have recently bought and sold shares of DBTX. Alphabet Inc. acquired a new stake in Decibel Therapeutics during the 3rd quarter worth about $5,661,000. BlackRock Inc. grew its holdings in Decibel Therapeutics by 73.1% during the 1st quarter. BlackRock Inc. now owns 1,897,223 shares of the company’s stock worth $5,768,000 after acquiring an additional 801,010 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Decibel Therapeutics during the 2nd quarter worth about $947,000. Millennium Management LLC grew its holdings in Decibel Therapeutics by 54.0% during the 4th quarter. Millennium Management LLC now owns 488,783 shares of the company’s stock worth $1,002,000 after acquiring an additional 171,491 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Decibel Therapeutics during the 4th quarter worth about $184,000. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Decibel Therapeutics Company Profile

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Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.