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

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price was down 4.7% on Thursday . The stock traded as low as $14.76 and last traded at $14.81. Approximately 109,639 shares traded hands during 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 Analyst Weigh In

Several research analysts recently commented on DYN shares. JPMorgan Chase & Co. downgraded shares of 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 research note on Thursday, October 24th. Robert W. Baird started coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Chardan Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Friday, January 10th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Dyne Therapeutics in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Price Performance

The company has a market cap of $1.52 billion, a P/E ratio of -4.22 and a beta of 1.16. The business has a 50-day moving average of $26.21 and a two-hundred day moving average of $33.60.

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

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the business’s 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 $40,914.60. Following the completion of the sale, the senior vice president now directly owns 127,078 shares in the company, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason P. Rhodes sold 782 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total value of $25,884.20. Following the transaction, the director now directly owns 15,962 shares of the company’s stock, valued at $528,342.20. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,071 shares of company stock worth $606,476 over the last quarter. 20.77% of the stock is currently owned by insiders.

Institutional Trading of Dyne Therapeutics

Several large investors have recently made changes to their positions in DYN. State of New Jersey Common Pension Fund D purchased a new stake in shares of Dyne Therapeutics during the third quarter worth $1,588,000. Seven Eight Capital LP grew its stake in Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock valued at $1,896,000 after acquiring an additional 35,568 shares in the last quarter. Jennison Associates LLC raised its holdings in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after acquiring an additional 19,730 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Dyne Therapeutics in the 2nd quarter worth approximately $1,724,000. Finally, RA Capital Management L.P. boosted its holdings in shares of Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after purchasing an additional 331,940 shares during the last quarter. 96.68% of the stock is currently 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.