Dyne Therapeutics (NASDAQ:DYN) Hits New 12-Month Low – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $9.96 and last traded at $10.46, with a volume of 2930532 shares traded. The stock had previously closed at $11.45.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Monday, March 17th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Scotiabank started coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price target for the company. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their target price on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Stock Performance

The firm’s 50 day moving average is $13.01 and its 200-day moving average is $22.96. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.78 and a beta of 1.11.

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, topping the consensus estimate of ($0.92) by $0.04. As a group, sell-side analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Activity

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 6,237 shares of company stock worth $77,760 over the last three months. 20.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in Dyne Therapeutics by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after purchasing an additional 566,146 shares during the last quarter. RTW Investments LP grew its holdings in shares of Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after buying an additional 431,503 shares in the last quarter. RA Capital Management L.P. raised its position in shares of Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after buying an additional 331,940 shares during the last quarter. State Street Corp lifted its stake in shares of Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after buying an additional 440,890 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Dyne Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,887,329 shares of the company’s stock worth $44,476,000 after acquiring an additional 27,916 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.