Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Time to Sell?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $23.83, but opened at $22.08. Dyne Therapeutics shares last traded at $22.4380, with a volume of 1,955,620 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DYN shares. Sanford C. Bernstein lifted their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald assumed coverage on Dyne Therapeutics in a report on Thursday. They issued an “overweight” rating on the stock. TD Cowen began coverage on Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating on the stock. Finally, Evercore set a $33.00 target price on Dyne Therapeutics in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.17.

Dyne Therapeutics Stock Performance

The company has a 50-day simple moving average of $20.24 and a two-hundred day simple moving average of $18.57. The company has a quick ratio of 19.92, a current ratio of 19.92 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.95 billion, a PE ratio of -7.42 and a beta of 1.06.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.04. During the same period in the previous year, the business earned ($1.05) EPS. As a group, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jason P. Rhodes sold 480,240 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $22.79, for a total transaction of $10,944,669.60. Following the completion of the sale, the director owned 875,912 shares in the company, valued at approximately $19,962,034.48. This trade represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have bought 9,000 shares of company stock worth $156,800 and have sold 2,066,372 shares worth $43,648,928. Insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. raised its holdings in shares of Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after purchasing an additional 14,727,667 shares during the period. Vanguard Group Inc. lifted its stake in Dyne Therapeutics by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock valued at $219,376,000 after purchasing an additional 1,455,151 shares during the last quarter. State Street Corp grew its holdings in Dyne Therapeutics by 27.0% during the fourth quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after purchasing an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Dyne Therapeutics by 45.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock valued at $101,164,000 after purchasing an additional 1,618,000 shares during the period. Finally, Orbis Allan Gray Ltd purchased a new stake in Dyne Therapeutics in the fourth quarter worth $93,926,000. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Company Profile

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor?mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.