Dyne Therapeutics (NASDAQ:DYN) Shares Down 6.4% After Analyst Downgrade

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) was down 6.4% during trading on Monday after Piper Sandler lowered their price target on the stock from $53.00 to $48.00. Piper Sandler currently has an overweight rating on the stock. Dyne Therapeutics traded as low as $12.81 and last traded at $12.74. Approximately 478,350 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,214,610 shares. The stock had previously closed at $13.61.

Several other equities analysts have also recently commented on DYN. Robert W. Baird initiated coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $46.00 target price for the company. Raymond James raised Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. HC Wainwright dropped their price objective on shares of Dyne Therapeutics from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, February 28th. Guggenheim restated a "buy" rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.64.

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Insider Buying and Selling at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares in the company, valued at $3,573,433.36. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oxana Beskrovnaya sold 2,334 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $65,632.08. Following the sale, the insider now directly owns 201,685 shares of the company's stock, valued at approximately $5,671,382.20. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,387 shares of company stock valued at $142,789. Corporate insiders own 20.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DYN. Quantbot Technologies LP acquired a new stake in shares of Dyne Therapeutics during the third quarter worth $34,000. Point72 DIFC Ltd bought a new position in Dyne Therapeutics during the 3rd quarter worth about $36,000. US Bancorp DE raised its stake in shares of 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 purchasing an additional 1,212 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Dyne Therapeutics in the fourth quarter valued at about $50,000. Finally, KBC Group NV boosted its position in shares of Dyne Therapeutics by 45.3% during the fourth quarter. KBC Group NV now owns 3,135 shares of the company's stock worth $74,000 after buying an additional 978 shares during the period. Institutional investors and hedge funds own 96.68% of the company's stock.

Dyne Therapeutics Stock Up 0.5 %

The stock has a fifty day moving average of $16.27 and a 200-day moving average of $26.93. The firm has a market capitalization of $1.25 billion, a P/E ratio of -3.44 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. Sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

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.