Dyne Therapeutics (NASDAQ:DYN) Trading Down 8% – What’s Next?

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) were down 8% during trading on Tuesday . The stock traded as low as $22.31 and last traded at $22.1730. Approximately 738,047 shares traded hands during trading, a decline of 72% from the average daily volume of 2,629,057 shares. The stock had previously closed at $24.11.

Analysts Set New Price Targets

DYN has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price target on Dyne Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, July 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. Raymond James Financial raised Dyne Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $31.00 to $35.00 in a report on Monday, August 25th. Stifel Nicolaus cut their price objective on Dyne Therapeutics from $66.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Finally, Lifesci Capital raised shares of Dyne Therapeutics to a “strong-buy” rating in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.07.

Dyne Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83. The stock has a 50-day moving average price of $15.16 and a 200 day moving average price of $12.50. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -5.57 and a beta of 1.09.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox sold 2,640 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $13.41, for a total value of $35,402.40. Following the sale, the chief executive officer owned 199,539 shares in the company, valued at $2,675,817.99. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.14% of the stock is owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Several hedge funds have recently modified their holdings of DYN. Graham Capital Management L.P. bought a new stake in Dyne Therapeutics during the 1st quarter valued at $651,000. Y Intercept Hong Kong Ltd grew its position in Dyne Therapeutics by 54.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 124,628 shares of the company’s stock valued at $1,186,000 after buying an additional 43,963 shares during the period. Voleon Capital Management LP purchased a new stake in Dyne Therapeutics during the first quarter valued at about $624,000. Swiss National Bank lifted its holdings in Dyne Therapeutics by 8.9% during the first quarter. Swiss National Bank now owns 118,300 shares of the company’s stock valued at $1,237,000 after purchasing an additional 9,700 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Dyne Therapeutics by 9.2% in the first quarter. Arizona State Retirement System now owns 17,501 shares of the company’s stock worth $183,000 after buying an additional 1,481 shares in the last quarter. 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.