Dyne Therapeutics (NASDAQ:DYN) Trading Down 5.5% - Here's Why

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares were down 5.5% during trading on Friday . The company traded as low as $11.60 and last traded at $11.57. Approximately 13,253 shares were traded during trading, a decline of 99% from the average daily volume of 1,627,166 shares. The stock had previously closed at $12.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective on the stock. Oppenheimer started coverage on shares of Dyne Therapeutics in a research report on Monday. They set an "outperform" rating and a $34.00 price target on the stock. Piper Sandler decreased their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Dyne Therapeutics from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Finally, HC Wainwright cut their target price on Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

Dyne Therapeutics Stock Up 6.2%

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.57 and a beta of 1.19. The business has a 50-day moving average price of $10.30 and a 200-day moving average price of $16.11.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Institutional Investors Weigh In On Dyne Therapeutics

A number of large investors have recently made changes to their positions in DYN. abrdn plc acquired a new stake in Dyne Therapeutics during the 4th quarter valued at $608,000. Raymond James Financial Inc. purchased a new stake in Dyne Therapeutics in the 4th quarter worth about $2,340,000. Barclays PLC lifted its stake in Dyne Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 207,309 shares of the company's stock worth $7,446,000 after acquiring an additional 128,246 shares in the last quarter. Schroder Investment Management Group boosted its position in Dyne Therapeutics by 63.3% during the 4th quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock worth $3,477,000 after acquiring an additional 56,961 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Dyne Therapeutics by 54.5% during the 4th quarter. Wells Fargo & Company MN now owns 38,754 shares of the company's stock valued at $913,000 after acquiring an additional 13,677 shares in the last quarter. Institutional investors and hedge funds 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.