Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 4.2% – Here’s Why

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) traded down 4.2% during mid-day trading on Tuesday . The company traded as low as $11.88 and last traded at $11.87. 129,341 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,352,046 shares. The stock had previously closed at $12.39.

Analyst Ratings Changes

Several research firms recently weighed in on DYN. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. BMO Capital Markets started coverage on Dyne Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Raymond James raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price target on shares of Dyne Therapeutics in a research report on Monday, March 17th. Finally, Baird R W raised 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 given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.46.

Dyne Therapeutics Price Performance

The firm has a market capitalization of $1.33 billion, a PE ratio of -3.31 and a beta of 1.11. The business has a 50-day simple moving average of $13.38 and a 200-day simple moving average of $23.75.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. On average, research analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Transactions at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the sale, the insider now directly owns 199,087 shares in the company, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of Dyne Therapeutics by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company’s stock valued at $5,532,000 after purchasing an additional 698 shares during the period. Summit Investment Advisors Inc. boosted its position in Dyne Therapeutics by 9.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock valued at $203,000 after buying an additional 721 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Dyne Therapeutics in the third quarter valued at approximately $34,000. KBC Group NV grew its stake in Dyne Therapeutics by 45.3% in the fourth quarter. KBC Group NV now owns 3,135 shares of the company’s stock worth $74,000 after purchasing an additional 978 shares in the last quarter. Finally, Virtue Capital Management LLC increased its holdings in Dyne Therapeutics by 4.4% during the 3rd quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock worth $834,000 after purchasing an additional 981 shares during the period. 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.