Dyne Therapeutics (NASDAQ:DYN) Stock Rating Lowered by Oppenheimer

Key Points

• Oppenheimer downgraded Dyne Therapeutics from “outperform” to “market perform” and set a $15 price target, implying 11.45% downside from the prior close. JPMorgan also lowered its rating to “underweight” and cut its target to $10, although the broader analyst consensus remains “Moderate Buy” with a $31.29 average target.
• Dyne shares opened at $16.94 after reportedly rising 7.8%; the company has a $3.16 billion market capitalization and trades near the lower end of its 52-week range. Its latest quarterly loss of $1.08 per share missed the $0.75 consensus estimate.
• Insiders sold substantial shares: company insiders sold 2.6 million shares worth approximately $65.4 million over the past 90 days, while institutional investors own 96.68% of the stock. Dyne is a clinical-stage biotechnology company developing genetic medicines for muscle diseases, including investigational treatments DYNE-101 and DYNE-251.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) was downgraded by stock analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $15.00 price target on the stock. Oppenheimer's price target points to a potential downside of 11.45% from the stock's previous close.

Several other equities analysts also recently weighed in on DYN. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $17.00 to $10.00 in a research report on Wednesday, September 9th. Wall Street Zen lowered Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Cantor Fitzgerald reiterated a "buy" rating on shares of Dyne Therapeutics in a report on Wednesday, September 30th. Raymond James Financial reissued a "strong-buy" rating and set a $37.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 8th. Finally, Stifel Nicolaus set a $37.00 target price on Dyne Therapeutics in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.29.

Dyne Therapeutics Stock Up 7.8%

Shares of DYN stock opened at $16.94 on Wednesday. The stock's 50-day moving average price is $19.09 and its 200 day moving average price is $19.32. Dyne Therapeutics has a 52-week low of $14.00 and a 52-week high of $27.31. The stock has a market capitalization of $3.16 billion, a PE ratio of -5.09 and a beta of 1.12.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.33). Analysts expect that Dyne Therapeutics will post -3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, CEO John Cox sold 5,658 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.88, for a total value of $106,823.04. Following the sale, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Douglas Kerr sold 3,745 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider directly owned 163,854 shares of the company's stock, valued at $3,989,844.90. This trade represents a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,598,706 shares of company stock valued at $65,432,671 in the last 90 days. Corporate insiders own 9.46% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DYN. GAMMA Investing LLC boosted its stake in Dyne Therapeutics by 63.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,882 shares of the company's stock valued at $30,000 after purchasing an additional 729 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Dyne Therapeutics by 89.8% in the third quarter. Sterling Capital Management LLC now owns 3,720 shares of the company's stock valued at $60,000 after buying an additional 1,760 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Dyne Therapeutics by 56.5% in the 3rd quarter. IFP Advisors Inc now owns 5,879 shares of the company's stock worth $95,000 after acquiring an additional 2,123 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Dyne Therapeutics during the second quarter worth $62,000. Finally, Wellington Management Group LLP boosted its position in shares of Dyne Therapeutics by 7.3% in the 2nd quarter. Wellington Management Group LLP now owns 52,427 shares of the company's stock valued at $1,164,000 after purchasing an additional 3,545 shares during the period. 96.68% of the stock is currently owned by institutional investors.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for serious muscle diseases. The company's research is centered on conditions in which the delivery of therapeutic molecules to skeletal muscle and other tissues is a significant challenge.

Dyne uses its proprietary FORCE platform to design targeted therapies intended to improve the delivery of oligonucleotides into muscle cells. The platform incorporates antibodies that bind to the transferrin receptor, which can help transport genetic medicines across cell membranes and into muscle tissue.

Dyne's pipeline includes DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.

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