Dyne Therapeutics (NASDAQ:DYN) Sets New 52-Week Low - Here's Why

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $9.96 and last traded at $10.46, with a volume of 2930532 shares trading hands. The stock had previously closed at $11.45.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DYN shares. Chardan Capital restated a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday, March 17th. Scotiabank started coverage on shares of Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target for the company. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $46.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $46.00 target price on shares of Dyne Therapeutics in a research note on Monday, March 17th. Finally, Raymond James upgraded Dyne Therapeutics to a "strong-buy" rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $47.46.

Dyne Therapeutics Stock Down 12.1 %

The business has a fifty day moving average of $12.81 and a 200 day moving average of $22.61. The company has a market cap of $936.64 million, a P/E ratio of -2.33 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares in the company, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,237 shares of company stock worth $77,760 over the last three months. Company insiders own 20.77% of the company's stock.

Institutional Trading of Dyne Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. abrdn plc purchased a new stake in Dyne Therapeutics in the fourth quarter worth about $608,000. Geode Capital Management LLC grew its stake in shares of Dyne Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company's stock worth $66,802,000 after buying an additional 84,760 shares during the last quarter. Barclays PLC increased its position in Dyne Therapeutics by 162.2% during the 3rd quarter. Barclays PLC now owns 207,309 shares of the company's stock valued at $7,446,000 after buying an additional 128,246 shares in the last quarter. State Street Corp raised its stake in Dyne Therapeutics by 13.8% during the third quarter. State Street Corp now owns 3,641,859 shares of the company's stock valued at $130,816,000 after buying an additional 440,890 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Dyne Therapeutics in the third quarter worth $1,067,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.