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

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.88 and last traded at $10.91, with a volume of 377079 shares changing hands. The stock had previously closed at $11.40.

Wall Street Analyst Weigh In

DYN has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. BMO Capital Markets began coverage on Dyne Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price on the stock. Scotiabank began coverage on Dyne Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price target for the company. Finally, Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.46.

Dyne Therapeutics Trading Down 5.3 %

The stock has a market capitalization of $1.22 billion, a PE ratio of -3.04 and a beta of 1.11. The business has a fifty day moving average price of $13.47 and a 200-day moving average price of $23.83.

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

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s 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 completion of the sale, the insider now owns 199,087 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders sold 6,237 shares of company stock valued at $77,760 over the last three months. Insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DYN. FMR LLC increased its position in shares of Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock valued at $324,239,000 after acquiring an additional 3,707,734 shares during the period. Janus Henderson Group PLC increased its stake in shares of Dyne Therapeutics by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after buying an additional 566,146 shares during the period. RTW Investments LP lifted its position in shares of Dyne Therapeutics by 6.8% in the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after purchasing an additional 431,503 shares during the period. RA Capital Management L.P. lifted its position in shares of Dyne Therapeutics by 5.5% in 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 period. Finally, State Street Corp boosted its stake in shares of Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after purchasing an additional 440,890 shares in the last quarter. 96.68% of the stock is 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.