Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Time to Sell?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.82, but opened at $12.51. Dyne Therapeutics shares last traded at $11.50, with a volume of 1,211,013 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler cut their target price on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Raymond James began coverage on shares of Dyne Therapeutics in a report on Wednesday, June 11th. They set an “outperform” rating and a $37.00 price objective for the company. Evercore ISI initiated coverage on shares of Dyne Therapeutics in a research note on Thursday, May 29th. They issued an “outperform” rating and a $46.00 target price on the stock. BMO Capital Markets initiated coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Oppenheimer assumed coverage on Dyne Therapeutics in a research report on Monday, June 2nd. They issued an “outperform” rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.93.

Dyne Therapeutics Stock Down 19.3%

The company has a market cap of $1.27 billion, a P/E ratio of -3.15 and a beta of 1.16. The company has a 50 day moving average price of $11.33 and a 200-day moving average price of $14.89.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). On average, research analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DYN. GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at $50,000. GAMMA Investing LLC lifted its holdings in Dyne Therapeutics by 837.5% in the 1st quarter. GAMMA Investing LLC now owns 2,625 shares of the company’s stock valued at $251,000 after acquiring an additional 2,345 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock valued at $32,000 after acquiring an additional 2,446 shares during the last quarter. Quarry LP bought a new position in shares of Dyne Therapeutics during the 1st quarter valued at about $47,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Dyne Therapeutics by 9.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after purchasing an additional 721 shares during the last quarter. 96.68% of the stock is 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.