Dyne Therapeutics (NASDAQ:DYN) Trading Down 4.6% – What’s Next?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price was down 4.6% during mid-day trading on Monday . The stock traded as low as $11.30 and last traded at $11.29. Approximately 152,152 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,673,524 shares. The stock had previously closed at $11.83.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DYN shares. HC Wainwright cut their target price on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Piper Sandler dropped their price target on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Finally, Scotiabank started coverage on Dyne Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.85.

Dyne Therapeutics Price Performance

The stock has a 50 day moving average price of $10.36 and a 200-day moving average price of $17.35. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.27 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN) last issued 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). As a group, research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 6,237 shares of company stock worth $77,760 over the last quarter. 14.14% of the stock is currently owned by company insiders.

Institutional Trading of Dyne Therapeutics

A number of large investors have recently made changes to their positions in the company. abrdn plc purchased a new stake in Dyne Therapeutics during the 4th quarter valued at approximately $608,000. Raymond James Financial Inc. purchased a new position in Dyne Therapeutics in the 4th quarter valued at approximately $2,340,000. Barclays PLC increased its stake in Dyne Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares in the last quarter. Schroder Investment Management Group increased its position in Dyne Therapeutics by 63.3% during the fourth quarter. Schroder Investment Management Group now owns 147,002 shares of the company’s stock worth $3,477,000 after buying an additional 56,961 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Dyne Therapeutics by 54.5% during the fourth quarter. Wells Fargo & Company MN now owns 38,754 shares of the company’s stock worth $913,000 after buying an additional 13,677 shares in the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

About Dyne Therapeutics

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.