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

Key Points

• Oppenheimer downgraded Dyne Therapeutics from “outperform” to “market perform,” cutting its price target from $40 to $15. The shares opened at $16.30, down from a prior close of $16.94.
• Analyst opinion remains mixed but leans positive overall: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $31.29, despite ratings ranging from “strong buy” to “strong sell.”
• Insiders sold 2.6 million shares worth about $65.4 million over the past 90 days, while institutional investors—including BlackRock and Jupiter Topco—established significant new positions. The company also missed its latest quarterly EPS estimate, reporting a loss of $1.08 per share versus the expected $0.75 loss.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) gapped down prior to trading on Wednesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $16.94, but opened at $16.30. Oppenheimer now has a $15.00 price target on the stock, down from their previous price target of $40.00. Dyne Therapeutics shares last traded at $16.7430, with a volume of 171,896 shares.

A number of other analysts also recently issued reports on the company. Raymond James Financial reiterated a "strong-buy" rating and set a $37.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 8th. Wall Street Zen cut shares of Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Cantor Fitzgerald restated a "buy" rating on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. Chardan Capital reaffirmed a "buy" rating and issued a $38.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. Finally, Robert W. Baird dropped their target price on shares of Dyne Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.29.

Insider Activity

In other Dyne Therapeutics news, CEO John Cox sold 5,658 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.88, for a total transaction of $106,823.04. Following the transaction, the chief executive officer directly owned 357,507 shares of the company's stock, valued at approximately $6,749,732.16. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 2,160,516 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the transaction, the director directly owned 428,946 shares of the company's stock, valued at approximately $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 2,598,706 shares of company stock worth $65,432,671. 9.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Dyne Therapeutics in the 2nd quarter worth about $275,500,000. Jupiter Topco LLC bought a new stake in Dyne Therapeutics during the 2nd quarter valued at about $266,634,000. Bank of America Corp DE bought a new stake in Dyne Therapeutics during the 2nd quarter valued at about $49,604,000. Palo Alto Investors LP bought a new stake in Dyne Therapeutics during the 2nd quarter valued at about $36,591,441. Finally, Perceptive Advisors LLC raised its holdings in Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company's stock worth $84,646,000 after buying an additional 1,189,895 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Down 0.7%

The firm's fifty day simple moving average is $19.09 and its 200-day simple moving average is $19.32. The firm has a market capitalization of $3.14 billion, a PE ratio of -5.03 and a beta of 1.12.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, analysts predict that Dyne Therapeutics, Inc. will post -3.59 earnings per share for the current year.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for serious muscle diseases. The company's research is centered on conditions in which the delivery of therapeutic molecules to skeletal muscle and other tissues is a significant challenge.

Dyne uses its proprietary FORCE platform to design targeted therapies intended to improve the delivery of oligonucleotides into muscle cells. The platform incorporates antibodies that bind to the transferrin receptor, which can help transport genetic medicines across cell membranes and into muscle tissue.

Dyne's pipeline includes DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.

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