Dyne Therapeutics (NASDAQ:DYN) Shares Down 6.7% - What's Next?

Key Points

• Dyne Therapeutics' shares fell by 6.7% during trading, reaching a low of $9.34 and closing at $9.29, with trading volume significantly down by 75% from average levels.
• Equities analysts have mixed ratings, with consensus reflecting a "Moderate Buy" and a target price of $40.63, despite some recent target cuts, including Robert W. Baird lowering it from $46.00 to $32.00.
• CEO John Cox purchased 100,000 shares at $9.11 each, increasing his ownership by over 70%, as institutional investors hold almost 97% of the company’s stock.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report)'s share price dropped 6.7% during trading on Monday . The company traded as low as $9.34 and last traded at $9.29. Approximately 635,027 shares traded hands during trading, a decline of 75% from the average daily volume of 2,552,836 shares. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DYN shares. Robert W. Baird cut their target price on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Jones Trading initiated coverage on Dyne Therapeutics in a research note on Thursday, June 26th. They set a "buy" rating and a $30.00 price target on the stock. Evercore ISI reaffirmed an "outperform" rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. Chardan Capital reaffirmed a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, June 17th. Finally, Raymond James Financial initiated coverage on Dyne Therapeutics in a research note on Wednesday, June 11th. They set an "outperform" rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.63.

Dyne Therapeutics Trading Down 6.4%

The stock's fifty day simple moving average is $10.93 and its 200 day simple moving average is $11.63. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -2.59 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, beating analysts' consensus estimates of ($0.99) by $0.02. On average, analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Cox bought 100,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was bought at an average price of $9.11 per share, with a total value of $911,000.00. Following the transaction, the chief executive officer owned 242,179 shares of the company's stock, valued at approximately $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 20.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently made changes to their positions in the business. CWM LLC lifted its stake in Dyne Therapeutics by 168.1% in the second quarter. CWM LLC now owns 3,030 shares of the company's stock valued at $29,000 after acquiring an additional 1,900 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after buying an additional 2,446 shares during the period. Quarry LP bought a new stake in shares of Dyne Therapeutics in the 1st quarter worth about $47,000. GF Fund Management CO. LTD. bought a new stake in shares of Dyne Therapeutics in the 4th quarter worth about $50,000. Finally, E Fund Management Co. Ltd. grew its holdings in shares of Dyne Therapeutics by 16.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock worth $144,000 after purchasing an additional 1,923 shares during 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.

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