Dyne Therapeutics (NASDAQ:DYN) Shares Down 5.4% - Here's Why

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) traded down 5.4% during trading on Wednesday . The stock traded as low as $10.23 and last traded at $10.06. 58,156 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,745,141 shares. The stock had previously closed at $10.63.

Analyst Ratings Changes

Several equities analysts recently commented on DYN shares. Oppenheimer assumed coverage on Dyne Therapeutics in a report on Monday, June 2nd. They issued an "outperform" rating and a $34.00 target price on the stock. Evercore ISI assumed coverage on shares of Dyne Therapeutics in a research note on Thursday, May 29th. They set an "outperform" rating and a $46.00 price target on the stock. HC Wainwright decreased their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Chardan Capital reissued a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Tuesday, June 17th. Finally, Guggenheim restated a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dyne Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $41.87.

Dyne Therapeutics Stock Performance

The firm has a fifty day moving average of $11.71 and a 200 day moving average of $14.23. The firm has a market capitalization of $1.18 billion, a PE ratio of -2.90 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted 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). Research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DYN. Rhumbline Advisers increased its holdings in Dyne Therapeutics by 4.2% in the first quarter. Rhumbline Advisers now owns 133,627 shares of the company's stock valued at $1,398,000 after buying an additional 5,383 shares during the last quarter. Optimize Financial Inc acquired a new stake in shares of Dyne Therapeutics during the 1st quarter valued at approximately $154,000. Exome Asset Management LLC bought a new position in Dyne Therapeutics during the first quarter worth $2,703,000. Caxton Associates LLP acquired a new position in Dyne Therapeutics in the first quarter worth $157,000. Finally, Voleon Capital Management LP acquired a new position in Dyne Therapeutics in the first quarter worth $624,000. 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.

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