Dyne Therapeutics (NASDAQ:DYN) Shares Down 6.4% on Analyst Downgrade

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares traded down 6.4% on Monday after Piper Sandler lowered their price target on the stock from $53.00 to $48.00. Piper Sandler currently has an overweight rating on the stock. Dyne Therapeutics traded as low as $12.81 and last traded at $12.74. 478,350 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,214,610 shares. The stock had previously closed at $13.61.

A number of other equities research analysts have also recently weighed in on DYN. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright cut their price objective on shares of Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird started coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $46.00 price target on the stock. Chardan Capital reiterated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Friday, January 10th. Finally, Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,334 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $65,632.08. Following the sale, the insider now owns 201,685 shares in the company, valued at approximately $5,671,382.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard William Scalzo sold 1,455 shares of the 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 transaction, the senior vice president now owns 127,078 shares in the company, valued at $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,387 shares of company stock worth $142,789. 20.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in Dyne Therapeutics in the third quarter worth approximately $34,000. Point72 DIFC Ltd bought a new position in Dyne Therapeutics in the third quarter worth approximately $36,000. US Bancorp DE raised its position in Dyne Therapeutics by 776.9% in the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after acquiring an additional 1,212 shares during the period. GF Fund Management CO. LTD. bought a new position in Dyne Therapeutics in the fourth quarter worth approximately $50,000. Finally, KBC Group NV raised its position in Dyne Therapeutics by 45.3% in the fourth quarter. KBC Group NV now owns 3,135 shares of the company’s stock worth $74,000 after acquiring an additional 978 shares during the period. 96.68% of the stock is currently owned by institutional investors.

Dyne Therapeutics Price Performance

The firm has a market capitalization of $1.25 billion, a P/E ratio of -3.46 and a beta of 1.11. The company’s 50-day simple moving average is $16.75 and its two-hundred day simple moving average is $27.26.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. Analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

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.