Dyne Therapeutics (NASDAQ:DYN) Trading Down 6.2% - Here's What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) dropped 6.2% during trading on Monday . The stock traded as low as $8.11 and last traded at $8.22. Approximately 1,168,915 shares traded hands during trading, a decline of 36% from the average daily volume of 1,822,119 shares. The stock had previously closed at $8.76.

Wall Street Analyst Weigh In

DYN has been the subject of several research analyst reports. HC Wainwright reduced their target price on Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Sanford C. Bernstein initiated 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. 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 target price for the company. BMO Capital Markets initiated coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 target price for the company. Finally, Oppenheimer initiated coverage on Dyne Therapeutics in a research note on Monday, June 2nd. They issued an "outperform" rating and a $34.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.13.

Dyne Therapeutics Trading Down 0.9%

The stock has a market capitalization of $1.00 billion, a P/E ratio of -2.45 and a beta of 1.08. The business has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $12.92.

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

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DYN. RA Capital Management L.P. increased its holdings in Dyne Therapeutics by 52.2% in the 1st quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company's stock worth $101,613,000 after purchasing an additional 3,333,248 shares in the last quarter. Braidwell LP grew its position in shares of Dyne Therapeutics by 431.6% in the 1st quarter. Braidwell LP now owns 3,621,344 shares of the company's stock valued at $37,879,000 after buying an additional 2,940,162 shares during the last quarter. Armistice Capital LLC grew its position in shares of Dyne Therapeutics by 187.0% in the 1st quarter. Armistice Capital LLC now owns 2,768,000 shares of the company's stock valued at $28,953,000 after buying an additional 1,803,482 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Dyne Therapeutics in the 4th quarter valued at about $42,408,000. Finally, Vestal Point Capital LP bought a new stake in shares of Dyne Therapeutics in the 1st quarter valued at about $18,828,000. Institutional investors and hedge funds own 96.68% of the company's stock.

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.