Dyne Therapeutics (NASDAQ:DYN) Shares Down 3.3% - Here's What Happened

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) dropped 3.3% during mid-day trading on Monday . The company traded as low as $13.78 and last traded at $13.94. Approximately 298,510 shares traded hands during trading, a decline of 82% from the average daily volume of 1,682,431 shares. The stock had previously closed at $14.41.

Analysts Set New Price Targets

DYN has been the subject of a number of recent research reports. Raymond James initiated coverage on shares of Dyne Therapeutics in a research report on Wednesday, June 11th. They set an "outperform" rating and a $37.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price for the company. Evercore ISI assumed coverage on shares of Dyne Therapeutics in a report on Thursday, May 29th. They issued an "outperform" rating and a $46.00 target price for the company. Scotiabank assumed coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Dyne Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $44.93.

Dyne Therapeutics Trading Down 2.4%

The firm's 50 day simple moving average is $11.19 and its 200 day simple moving average is $15.01. The firm has a market cap of $1.60 billion, a PE ratio of -3.96 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.17). As a group, equities research analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Dyne Therapeutics by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company's stock worth $5,532,000 after buying an additional 698 shares during the period. Summit Investment Advisors Inc. lifted its position in Dyne Therapeutics by 9.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company's stock valued at $203,000 after purchasing an additional 721 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Dyne Therapeutics by 5.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company's stock valued at $237,000 after purchasing an additional 1,115 shares during the period. E Fund Management Co. Ltd. lifted its position in Dyne Therapeutics by 11.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 11,848 shares of the company's stock valued at $279,000 after purchasing an additional 1,249 shares during the period. Finally, Arizona State Retirement System lifted its position in Dyne Therapeutics by 9.2% during the first quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock valued at $183,000 after purchasing an additional 1,481 shares during the period. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.

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