Dyne Therapeutics, Inc. (NASDAQ:DYN – Get Free Report)’s stock price gapped down before the market opened on Wednesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $16.94, but opened at $16.30. Oppenheimer now has a $15.00 price target on the stock, down from their previous price target of $40.00. Dyne Therapeutics shares last traded at $16.7430, with a volume of 171,896 shares trading hands.
Other equities research analysts have also issued research reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 29th. Raymond James Financial restated a “strong-buy” rating and issued a $37.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, September 8th. Stifel Nicolaus set a $37.00 price objective on Dyne Therapeutics in a research note on Wednesday, September 30th. HC Wainwright dropped their price objective on Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $31.29.
Read Our Latest Analysis on DYN
Insider Buying and Selling at Dyne Therapeutics
In other Dyne Therapeutics news, insider Douglas Kerr sold 3,745 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.35, for a total transaction of $91,190.75. Following the sale, the insider directly owned 163,854 shares of the company’s stock, valued at $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason Rhodes sold 2,160,516 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares in the company, valued at approximately $10,723,650. This represents a 83.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 2,598,706 shares of company stock valued at $65,432,671. Corporate insiders own 9.46% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in DYN. GAMMA Investing LLC raised its stake in Dyne Therapeutics by 63.2% in the third quarter. GAMMA Investing LLC now owns 1,882 shares of the company’s stock worth $30,000 after buying an additional 729 shares in the last quarter. Allworth Financial LP bought a new stake in Dyne Therapeutics during the 2nd quarter valued at $62,000. Sterling Capital Management LLC boosted its position in Dyne Therapeutics by 89.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,720 shares of the company’s stock valued at $60,000 after acquiring an additional 1,760 shares in the last quarter. Nykredit A S bought a new stake in Dyne Therapeutics during the 2nd quarter valued at $113,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Dyne Therapeutics in the 2nd quarter valued at $114,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.
Dyne Therapeutics Stock Performance
The stock has a fifty day moving average price of $19.09 and a 200-day moving average price of $19.32. The firm has a market capitalization of $3.14 billion, a PE ratio of -5.03 and a beta of 1.12.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.33). Research analysts expect that Dyne Therapeutics, Inc. will post -3.59 earnings per share for the current fiscal year.
About Dyne Therapeutics
Dyne Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for serious muscle diseases. The company’s research is centered on conditions in which the delivery of therapeutic molecules to skeletal muscle and other tissues is a significant challenge.
Dyne uses its proprietary FORCE platform to design targeted therapies intended to improve the delivery of oligonucleotides into muscle cells. The platform incorporates antibodies that bind to the transferrin receptor, which can help transport genetic medicines across cell membranes and into muscle tissue.
Dyne’s pipeline includes DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.
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