Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 4.7% – Here’s Why

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) were down 4.7% during mid-day trading on Thursday . The company traded as low as $14.76 and last traded at $14.81. Approximately 109,639 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,353,063 shares. The stock had previously closed at $15.54.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DYN shares. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday. Piper Sandler restated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Finally, Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and an average price target of $49.91.

Dyne Therapeutics Stock Down 3.7 %

The stock has a fifty day simple moving average of $26.21 and a 200 day simple moving average of $33.60. The firm has a market capitalization of $1.52 billion, a P/E ratio of -4.22 and a beta of 1.16.

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

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,334 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $65,632.08. Following the completion of the transaction, the insider now directly owns 201,685 shares of the company’s stock, valued at approximately $5,671,382.20. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlo Incerti sold 16,500 shares of Dyne Therapeutics stock in a transaction that occurred on 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 quarter, insiders sold 21,071 shares of company stock worth $606,476. 20.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at about $34,000. Point72 DIFC Ltd purchased a new stake in Dyne Therapeutics during the third quarter valued at approximately $36,000. US Bancorp DE raised its holdings in Dyne Therapeutics by 776.9% during the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock valued at $49,000 after buying an additional 1,212 shares during the period. Values First Advisors Inc. bought a new stake in Dyne Therapeutics in the third quarter worth $62,000. Finally, KBC Group NV boosted its stake in Dyne Therapeutics by 53.4% during the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after buying an additional 751 shares during the period. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.