Dyne Therapeutics (NASDAQ:DYN) Trading Down 3% on Insider Selling

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares fell 3% on Tuesday after an insider sold shares in the company. The company traded as low as $33.42 and last traded at $33.60. 84,112 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,598,878 shares. The stock had previously closed at $34.63.

Specifically, Director Dirk Kersten sold 40,831 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the transaction, the director now directly owns 193,296 shares of the company’s stock, valued at $6,827,214.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the sale, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. The disclosure for this sale can be found here. In related news, insider Oxana Beskrovnaya sold 2,339 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $80,812.45. Following the completion of the transaction, the insider now owns 140,375 shares in the company, valued at approximately $4,849,956.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DYN shares. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Guggenheim increased their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Piper Sandler restated an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday. Morgan Stanley upped their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

The firm’s 50-day moving average price is $40.55 and its two-hundred day moving average price is $33.78. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -8.79 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.02. As a group, sell-side analysts expect that Dyne Therapeutics, Inc. will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after buying an additional 669 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after acquiring an additional 796 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Dyne Therapeutics by 28.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after purchasing an additional 1,291 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Dyne Therapeutics in the 2nd quarter valued at approximately $203,000. Finally, Farallon Capital Management LLC purchased a new stake in Dyne Therapeutics in the second quarter valued at approximately $212,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.