Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – What’s Next?

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) 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 traded.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DYN. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Stifel Nicolaus increased their price target on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 16th. Oppenheimer reissued an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Price Performance

The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -7.97 and a beta of 1.10. The stock’s 50-day moving average is $32.48 and its 200-day moving average is $35.10.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Analysts predict that Dyne Therapeutics, Inc. will post -3.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, CEO John Cox acquired 32,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. This trade represents a -133.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares in the company, valued at approximately $8,533,929.15. The trade was a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,975 shares of company stock worth $5,693,789 over the last three months. 20.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Dyne Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after acquiring an additional 84,760 shares in the last quarter. Barclays PLC increased its stake in Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Dyne Therapeutics during the third quarter worth $1,067,000. XTX Topco Ltd bought a new position in shares of Dyne Therapeutics in the 3rd quarter worth about $573,000. Finally, Sphera Funds Management LTD. acquired a new position in shares of Dyne Therapeutics in the 3rd quarter valued at about $2,030,000. Institutional investors and hedge funds 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.