Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down - Here's Why

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $23.05, but opened at $20.00. Dyne Therapeutics shares last traded at $18.09, with a volume of 866,512 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DYN. JPMorgan Chase & Co. downgraded Dyne Therapeutics from an "overweight" rating to a "neutral" rating and cut their price target for the company from $43.00 to $35.00 in a report on Thursday, October 24th. StockNews.com downgraded shares of Dyne Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, September 16th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They issued an "outperform" rating and a $46.00 price objective on the stock. Baird R W raised shares of Dyne Therapeutics to a "strong-buy" rating in a research report on Thursday, December 12th. Finally, Raymond James raised shares of Dyne Therapeutics to a "strong-buy" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.91.

Dyne Therapeutics Stock Down 31.1 %

The firm has a 50 day moving average price of $27.29 and a 200-day moving average price of $34.15.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, research analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Transactions at Dyne Therapeutics

In related news, Director Carlo Incerti sold 16,500 shares of Dyne Therapeutics stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now directly owns 127,078 shares of the company's stock, valued at $3,573,433.36. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,742 shares of company stock valued at $1,443,246 in the last ninety days. 20.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of Dyne Therapeutics during the 3rd quarter worth approximately $34,000. Point72 DIFC Ltd purchased a new position in Dyne Therapeutics during the third quarter worth approximately $36,000. US Bancorp DE grew its holdings in Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company's stock valued at $49,000 after buying an additional 1,212 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Dyne Therapeutics in the 3rd quarter worth $62,000. Finally, KBC Group NV increased its stake in shares of Dyne Therapeutics by 53.4% in the 3rd quarter. KBC Group NV now owns 2,157 shares of the company's stock worth $77,000 after acquiring an additional 751 shares during the last quarter. 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.