Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 2.9% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price dropped 2.9% during mid-day trading on Tuesday . The company traded as low as $7.60 and last traded at $7.27. Approximately 58,376 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,425,839 shares. The stock had previously closed at $7.49.

Wall Street Analyst Weigh In

DYN has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Piper Sandler lowered 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 note on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $46.00 target price on shares of Dyne Therapeutics in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.46.

Dyne Therapeutics Stock Down 7.5 %

The business’s 50-day simple moving average is $12.69 and its two-hundred day simple moving average is $22.32. The firm has a market capitalization of $783.36 million, a price-to-earnings ratio of -1.95 and a beta of 1.21.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now directly owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 6,237 shares of company stock valued at $77,760. Corporate insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Dyne Therapeutics during the third quarter worth about $36,000. GF Fund Management CO. LTD. acquired a new position in shares of Dyne Therapeutics during the 4th quarter worth about $50,000. KBC Group NV raised its position in shares of Dyne Therapeutics by 45.3% during the 4th quarter. KBC Group NV now owns 3,135 shares of the company’s stock worth $74,000 after acquiring an additional 978 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Dyne Therapeutics by 9.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after purchasing an additional 721 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.