Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 3.7% – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price dropped 3.7% during trading on Friday . The stock traded as low as $24.36 and last traded at $24.52. Approximately 418,807 shares were traded during trading, a decline of 43% from the average daily volume of 730,030 shares. The stock had previously closed at $25.46.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada started coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 price objective for the company. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, StockNews.com cut Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Trading Down 2.7 %

The business’s fifty day moving average is $27.78 and its 200 day moving average is $34.43. The firm has a market capitalization of $2.52 billion, a P/E ratio of -6.96 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly 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). As a group, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, Director Dirk Kersten sold 23,671 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total transaction of $836,769.85. Following the completion of the sale, the director now directly owns 99,652 shares in the company, valued at approximately $3,522,698.20. This trade represents a 19.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jason P. Rhodes sold 782 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total transaction of $25,884.20. Following the sale, the director now owns 15,962 shares of the company’s stock, valued at approximately $528,342.20. This represents a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,742 shares of company stock valued at $1,443,246 over the last three months. Insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Dyne Therapeutics in the third quarter valued at about $34,000. Point72 DIFC Ltd acquired a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at about $36,000. US Bancorp DE lifted its holdings in shares of 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 last quarter. Values First Advisors Inc. bought a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at approximately $62,000. Finally, KBC Group NV increased its holdings 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 buying an additional 751 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.