Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 7.1% – Here’s Why

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) fell 7.1% during mid-day trading on Friday . The company traded as low as $27.80 and last traded at $28.16. 245,371 shares traded hands during trading, a decline of 84% from the average session volume of 1,489,411 shares. The stock had previously closed at $30.31.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DYN shares. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday. Morgan Stanley raised their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Guggenheim boosted their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Oppenheimer reissued an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Finally, StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -7.97 and a beta of 1.10. The stock’s fifty day moving average is $32.48 and its two-hundred day moving average is $35.17.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Sell-side analysts anticipate that Dyne Therapeutics, Inc. will post -3.02 earnings per share for the current year.

Insider Activity

In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the transaction, the director now owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 25.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John Cox purchased 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. The trade was a -133.33 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 158,975 shares of company stock worth $5,693,789. 20.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Swiss National Bank raised its stake in Dyne Therapeutics by 41.5% during the first quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $2,419,000 after acquiring an additional 25,000 shares during the period. Sei Investments Co. bought a new stake in shares of Dyne Therapeutics in the 1st quarter worth approximately $693,000. Russell Investments Group Ltd. lifted its holdings in shares of Dyne Therapeutics by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 101,943 shares of the company’s stock worth $2,894,000 after purchasing an additional 1,447 shares during the last quarter. ProShare Advisors LLC grew its stake in Dyne Therapeutics by 44.6% during the 1st quarter. ProShare Advisors LLC now owns 16,307 shares of the company’s stock worth $463,000 after buying an additional 5,028 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Dyne Therapeutics by 47.7% during the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after buying an additional 1,110,629 shares during the last quarter. 96.68% of the stock is currently owned by 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.