Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down After Analyst Downgrade

Key Points

• Dyne Therapeutics experienced a significant drop in its stock price after Oppenheimer downgraded it from an "outperform" to a "market perform" rating, opening at $14.13 from a previous close of $14.68.
• JPMorgan Chase lowered its target price for Dyne Therapeutics from $10.00 to $9.00, contributing to a shift in analyst sentiment with differing ratings from multiple firms on the stock.
• CEO John Cox made a notable investment by purchasing 100,000 shares at an average price of $9.11, indicating a strong personal confidence in the company's future.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares gapped down prior to trading on Friday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $14.68, but opened at $14.13. Dyne Therapeutics shares last traded at $14.13, with a volume of 210,969 shares changing hands.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Jones Trading started coverage on Dyne Therapeutics in a research note on Thursday, June 26th. They set a "buy" rating and a $30.00 target price for the company. Sanford C. Bernstein started coverage on Dyne Therapeutics in a research note on Tuesday, June 24th. They set a "market perform" rating and a $13.00 target price for the company. Chardan Capital cut their price target on Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Finally, Guggenheim reaffirmed a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $34.07.

Insider Activity

In related news, CEO John Cox bought 100,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were acquired at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the acquisition, the chief executive officer owned 242,179 shares in the company, valued at approximately $2,206,250.69. This trade represents a 70.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.14% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Dyne Therapeutics by 837.5% in the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock valued at $251,000 after purchasing an additional 2,345 shares during the period. CWM LLC boosted its stake in shares of 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 buying an additional 1,900 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Dyne Therapeutics by 378.6% in the first 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 in the last quarter. Quarry LP purchased a new stake in shares of Dyne Therapeutics in the first quarter valued at approximately $47,000. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Dyne Therapeutics by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company's stock valued at $91,000 after buying an additional 955 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company's stock.

Dyne Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83. The stock has a market capitalization of $2.00 billion, a PE ratio of -3.66 and a beta of 1.09. The stock has a 50 day moving average of $12.76 and a two-hundred day moving average of $11.25.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results 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. Research analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

About Dyne Therapeutics

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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