Dyne Therapeutics (NASDAQ:DYN) Trading Down 4.2% – Time to Sell?

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) were down 4.2% on Friday . The company traded as low as $29.73 and last traded at $29.82. Approximately 176,628 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,474,617 shares. The stock had previously closed at $31.13.

Analyst Ratings Changes

A number of research analysts have weighed in on DYN shares. Royal Bank of Canada started coverage on Dyne Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Finally, Chardan Capital restated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.82.

Dyne Therapeutics Stock Performance

The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -8.74 and a beta of 1.10. The firm has a 50-day simple moving average of $31.78 and a two-hundred day simple moving average of $35.36.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, equities analysts forecast that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, CEO John Cox acquired 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the transaction, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. This represents a -133.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlo Incerti sold 16,500 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,257 shares of company stock valued at $6,193,718. 20.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seven Eight Capital LP boosted its holdings in Dyne Therapeutics by 195.7% in the second quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock valued at $1,896,000 after purchasing an additional 35,568 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Dyne Therapeutics in the third quarter valued at approximately $1,588,000. Jennison Associates LLC lifted its stake in Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after buying an additional 19,730 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in Dyne Therapeutics in the second quarter valued at approximately $1,724,000. Finally, Vanguard Group Inc. lifted its stake in Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock valued at $97,669,000 after buying an additional 1,110,629 shares during 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.