Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report)'s stock price dropped 6.1% during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $10.00 to $9.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Dyne Therapeutics traded as low as $8.40 and last traded at $8.37. Approximately 723,646 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,878,776 shares. The stock had previously closed at $8.91.
Several other analysts have also recently weighed in on the stock. HC Wainwright reduced their target price on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Robert W. Baird lowered their price target on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Oppenheimer began coverage on Dyne Therapeutics in a research note on Monday, June 2nd. They set an "outperform" rating and a $34.00 price objective on the stock. Sanford C. Bernstein started coverage on Dyne Therapeutics in a report on Tuesday, June 24th. They issued a "market perform" rating and a $13.00 price objective for the company. Finally, Jones Trading assumed coverage on Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $40.63.
Check Out Our Latest Report on Dyne Therapeutics
Hedge Funds Weigh In On Dyne Therapeutics
Several large investors have recently modified their holdings of DYN. GF Fund Management CO. LTD. bought a new position in Dyne Therapeutics in the fourth quarter worth approximately $50,000. GAMMA Investing LLC grew its holdings in shares of Dyne Therapeutics by 837.5% during the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock valued at $251,000 after buying an additional 2,345 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Dyne Therapeutics by 378.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after purchasing an additional 2,446 shares in the last quarter. Quarry LP bought a new position in shares of Dyne Therapeutics during the first quarter valued at about $47,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of 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 in the last quarter. Institutional investors own 96.68% of the company's stock.
Dyne Therapeutics Stock Down 7.1%
The business's 50-day moving average is $11.38 and its two-hundred day moving average is $12.66. The company has a market capitalization of $941.16 million, a P/E ratio of -2.31 and a beta of 1.08.
Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.
About Dyne Therapeutics
(
Get Free Report)
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.
Further Reading
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