Dyne Therapeutics (NASDAQ:DYN) Trading Down 3.7% – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares traded down 3.7% during trading on Friday . The stock traded as low as $24.36 and last traded at $24.52. 418,807 shares traded hands during trading, a decline of 43% from the average session volume of 730,030 shares. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

DYN has been the subject of a number of research analyst reports. Baird R W raised shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a report on Monday, September 23rd. Royal Bank of Canada initiated coverage on shares of Dyne Therapeutics in a research note on Tuesday, November 26th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.42.

Dyne Therapeutics Trading Down 3.9 %

The business has a fifty day moving average of $27.90 and a two-hundred day moving average of $34.47. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -6.87 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). On average, research analysts forecast that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now directly owns 127,078 shares of the company’s stock, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Oxana Beskrovnaya sold 2,334 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $65,632.08. Following the completion of the sale, the insider now owns 201,685 shares of the company’s stock, valued at approximately $5,671,382.20. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,742 shares of company stock valued at $1,443,246. 20.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Dyne Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after acquiring an additional 4,236 shares during the period. Virtue Capital Management LLC boosted its stake in shares of Dyne Therapeutics by 4.4% in the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after purchasing an additional 981 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dyne Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares in the last quarter. Barclays PLC increased its stake in Dyne Therapeutics by 162.2% during the 3rd quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after buying an additional 128,246 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Dyne Therapeutics during the 3rd quarter worth approximately $1,067,000. 96.68% of the stock is currently 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.