Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $34.13, but opened at $32.54. Dyne Therapeutics shares last traded at $32.17, with a volume of 260,922 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Stifel Nicolaus increased their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Guggenheim boosted their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Trading Down 6.3 %

The firm has a market capitalization of $2.89 billion, a P/E ratio of -7.97 and a beta of 1.10. The business’s fifty day moving average is $32.48 and its 200 day moving average is $35.10.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data 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). As a group, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dirk Kersten sold 79,411 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the sale, the director now owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,975 shares of company stock valued at $5,693,789. 20.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of large investors have recently added to or reduced their stakes in DYN. Nisa Investment Advisors LLC boosted its holdings in Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after acquiring an additional 669 shares during the period. Quantbot Technologies LP bought a new stake in Dyne Therapeutics during the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new stake in Dyne Therapeutics in the 3rd quarter valued at approximately $36,000. US Bancorp DE increased its position in Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after buying an additional 1,212 shares during the period. Finally, Values First Advisors Inc. bought a new stake in shares of Dyne Therapeutics in the third quarter valued at approximately $62,000. Institutional investors own 96.68% of the company’s stock.

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.