Dyne Therapeutics (NASDAQ:DYN) Trading Down 4.6% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price dropped 4.6% during mid-day trading on Monday . The company traded as low as $11.30 and last traded at $11.29. Approximately 152,152 shares traded hands during trading, a decline of 91% from the average daily volume of 1,673,524 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

Several equities analysts have commented on DYN shares. Piper Sandler lowered their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Chardan Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research report on Friday, May 9th. HC Wainwright reduced their price objective on Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Scotiabank initiated coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.25.

Dyne Therapeutics Trading Up 5.8%

The company has a 50-day simple moving average of $10.36 and a 200 day simple moving average of $17.19. The company has a market cap of $1.40 billion, a P/E ratio of -3.47 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN) last issued 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, equities analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DYN. Optimize Financial Inc bought a new stake in Dyne Therapeutics during the 1st quarter valued at $154,000. Exome Asset Management LLC bought a new stake in shares of Dyne Therapeutics in the first quarter valued at about $2,703,000. Caxton Associates LLP purchased a new stake in Dyne Therapeutics in the first quarter worth about $157,000. Voleon Capital Management LP bought a new position in Dyne Therapeutics during the 1st quarter worth about $624,000. Finally, Goldman Sachs Group Inc. increased its position in Dyne Therapeutics by 58.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 994,886 shares of the company’s stock valued at $10,407,000 after purchasing an additional 366,183 shares during the period. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Company Profile

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.