Dyne Therapeutics (NASDAQ:DYN) Trading Down 7.1% – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price traded down 7.1% during mid-day trading on Friday . The company traded as low as $27.80 and last traded at $28.16. 245,371 shares traded hands during trading, a decline of 84% from the average session volume of 1,489,411 shares. The stock had previously closed at $30.31.

Wall Street Analyst Weigh In

DYN has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus raised their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Morgan Stanley increased their price objective on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.40.

Dyne Therapeutics Stock Down 6.3 %

The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -7.97 and a beta of 1.10. The firm’s 50 day moving average is $32.48 and its 200 day moving average is $35.17.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In other Dyne Therapeutics news, CEO John Cox purchased 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the acquisition, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. This represents a -133.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Susanna Gatti High sold 8,976 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total value of $308,864.16. Following the transaction, the chief operating officer now directly owns 131,636 shares in the company, valued at $4,529,594.76. The trade was a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,975 shares of company stock worth $5,693,789 over the last ninety days. 20.77% of the stock is currently owned by company insiders.

Institutional Trading of Dyne Therapeutics

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. purchased a new stake in Dyne Therapeutics in the 1st quarter worth approximately $693,000. Seven Eight Capital LP purchased a new stake in shares of Dyne Therapeutics during the first quarter worth $516,000. Swiss National Bank boosted its position in Dyne Therapeutics by 41.5% during the first quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $2,419,000 after purchasing an additional 25,000 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Dyne Therapeutics in the second quarter valued at about $1,724,000. Finally, Vanguard Group Inc. increased its position in Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after purchasing an additional 1,110,629 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.