Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.82, but opened at $12.51. Dyne Therapeutics shares last traded at $11.50, with a volume of 1,211,013 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 21st. HC Wainwright reduced their target price on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Oppenheimer assumed coverage on Dyne Therapeutics in a research report on Monday, June 2nd. They set an “outperform” rating and a $34.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Tuesday. Finally, Piper Sandler decreased their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.93.

Dyne Therapeutics Stock Down 19.3%

The company has a market cap of $1.27 billion, a PE ratio of -3.15 and a beta of 1.16. The stock’s 50 day simple moving average is $11.33 and its two-hundred day simple moving average is $14.89.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). Analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Institutional Trading of Dyne Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Dyne Therapeutics by 378.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock valued at $32,000 after buying an additional 2,446 shares in the last quarter. Quarry LP acquired a new stake in Dyne Therapeutics in the first quarter valued at approximately $47,000. GF Fund Management CO. LTD. purchased a new stake in shares of Dyne Therapeutics during the fourth quarter valued at approximately $50,000. E Fund Management Co. Ltd. lifted its position in shares of Dyne Therapeutics by 16.2% during the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company’s stock worth $144,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Optimize Financial Inc purchased a new position in shares of Dyne Therapeutics in the first quarter valued at $154,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.