Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 7.2% - Here's Why

Key Points

• Dyne Therapeutics' stock price experienced a significant decline of 7.2% on Monday, closing at $12.20, with a trading volume that was 64% lower than its average.
• Multiple analysts have adjusted their target prices for Dyne Therapeutics, with Royal Bank of Canada lowering its target from $25.00 to $23.00, while others have issued various ratings ranging from Strong Buy to Neutral.
• The company reported earnings of ($0.97) per share for the last quarter, slightly beating analyst expectations of ($0.99), with predictions for a full-year EPS of ($3.44).

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report)'s stock price was down 7.2% during mid-day trading on Monday . The stock traded as low as $12.38 and last traded at $12.20. Approximately 938,588 shares changed hands during trading, a decline of 64% from the average daily volume of 2,597,007 shares. The stock had previously closed at $13.15.

Analyst Ratings Changes

Several analysts have issued reports on DYN shares. Royal Bank Of Canada cut their target price on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price target on Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Robert W. Baird dropped their target price on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their target price on Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Dyne Therapeutics in a report on Friday, July 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Dyne Therapeutics currently has an average rating of "Buy" and an average target price of $34.07.

Dyne Therapeutics Stock Performance

The company has a current ratio of 16.83, a quick ratio of 16.83 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $12.08 and a 200 day moving average price of $11.17. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -3.20 and a beta of 1.10.

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

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox sold 2,640 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $13.41, for a total value of $35,402.40. Following the sale, the chief executive officer owned 199,539 shares of the company's stock, valued at $2,675,817.99. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.77% of the stock is owned by company insiders.

Institutional Trading of Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DYN. RA Capital Management L.P. grew its position in Dyne Therapeutics by 52.2% during the first quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company's stock worth $101,613,000 after buying an additional 3,333,248 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Dyne Therapeutics during the 2nd quarter worth approximately $30,378,000. Braidwell LP grew its holdings in shares of Dyne Therapeutics by 431.6% during the 1st quarter. Braidwell LP now owns 3,621,344 shares of the company's stock worth $37,879,000 after purchasing an additional 2,940,162 shares in the last quarter. Armistice Capital LLC boosted its stake in Dyne Therapeutics by 187.0% during the first quarter. Armistice Capital LLC now owns 2,768,000 shares of the company's stock worth $28,953,000 after buying an additional 1,803,482 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Dyne Therapeutics during the first quarter worth $18,828,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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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