Oppenheimer Downgrades Dyne Therapeutics (NASDAQ:DYN) to Market Perform

Key Points

• Oppenheimer downgraded Dyne Therapeutics from an "outperform" to a "market perform" rating, indicating a shift in sentiment towards the company.
• While Oppenheimer has revised its outlook, other analysts such as Guggenheim and Evercore ISI maintain positive ratings on the stock, with target prices ranging from $23 to $50.
• Dyne Therapeutics has shown significant stock performance volatility, with a twelve month low of $6.36 and a high of $35.90, currently trading at around $14.68.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) was downgraded by research analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued to investors on Friday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on DYN. Guggenheim restated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Evercore ISI reissued an "outperform" rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. Chardan Capital reduced their price objective on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their target price on shares of Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada cut their price target on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Dyne Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $34.07.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $14.68 on Friday. The company has a 50-day moving average of $12.76 and a 200-day moving average of $11.25. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -3.80 and a beta of 1.09. The company has a current ratio of 16.83, a quick ratio of 16.83 and a debt-to-equity ratio of 0.17. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $35.90.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. Analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Cox sold 2,640 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $13.41, for a total transaction of $35,402.40. Following the transaction, the chief executive officer directly owned 199,539 shares in the company, valued at approximately $2,675,817.99. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors have recently made changes to their positions in DYN. CWM LLC grew its holdings in Dyne Therapeutics by 168.1% during the second quarter. CWM LLC now owns 3,030 shares of the company's stock valued at $29,000 after purchasing an additional 1,900 shares during the period. Caitong International Asset Management Co. Ltd lifted its position 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 acquiring an additional 2,446 shares in the last quarter. Quarry LP acquired a new position in Dyne Therapeutics in the 1st quarter worth $47,000. Ameritas Investment Partners Inc. raised its stake in shares of Dyne Therapeutics by 11.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company's stock valued at $91,000 after purchasing an additional 955 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Dyne Therapeutics by 275.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company's stock valued at $100,000 after purchasing an additional 7,697 shares in the last quarter. 96.68% of the stock is 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.