Dyne Therapeutics (NASDAQ:DYN) Sets New 12-Month Low – Here’s What Happened

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) hit a new 52-week low on Tuesday . The stock traded as low as $11.33 and last traded at $11.50, with a volume of 1605555 shares. The stock had previously closed at $12.40.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DYN. BMO Capital Markets began coverage on shares of Dyne Therapeutics in a report on Wednesday. They set an “outperform” rating and a $50.00 price objective on the stock. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Piper Sandler cut their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. HC Wainwright cut their price target on shares of Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird started coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.85.

Dyne Therapeutics Price Performance

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -3.47 and a beta of 1.11. The business’s fifty day simple moving average is $15.10 and its 200 day simple moving average is $25.73.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction dated 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 in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its stake 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 acquiring an additional 1,212 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Dyne Therapeutics during the third quarter worth approximately $1,588,000. Victory Capital Management Inc. boosted its position in shares of Dyne Therapeutics by 59.4% in the third quarter. Victory Capital Management Inc. now owns 30,537 shares of the company’s stock valued at $1,097,000 after acquiring an additional 11,385 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Dyne Therapeutics by 4.3% in the third quarter. Oppenheimer & Co. Inc. now owns 40,091 shares of the company’s stock valued at $1,440,000 after acquiring an additional 1,636 shares during the period. Finally, KBC Group NV lifted its position in Dyne Therapeutics by 53.4% in the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after purchasing an additional 751 shares during the period. 96.68% of the stock is currently owned by 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.