Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 5.6% – Here’s Why

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) fell 5.6% on Friday . The company traded as low as $16.99 and last traded at $17.0490. 1,153,227 shares were traded during mid-day trading, a decline of 48% from the average session volume of 2,200,641 shares. The stock had previously closed at $18.06.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald began coverage on shares of Dyne Therapeutics in a research note on Thursday, July 23rd. They set an “overweight” rating for the company. Morgan Stanley cut their price objective on shares of Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Finally, TD Cowen started coverage on Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Dyne Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. The stock’s fifty day moving average is $24.12 and its 200-day moving average is $20.62. The stock has a market cap of $3.18 billion, a PE ratio of -5.11 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, July 30th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). As a group, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.59 EPS for the current year.

Insider Activity

In related news, CFO Erick Lucera sold 2,362 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the transaction, the chief financial officer directly owned 121,563 shares in the company, valued at approximately $2,476,238.31. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jason P. Rhodes sold 2,160,516 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the completion of the transaction, the director owned 428,946 shares of the company’s stock, valued at $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,150,974 shares of company stock worth $99,697,629 over the last quarter. 9.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently modified their holdings of DYN. Hilton Head Capital Partners LLC acquired a new stake in Dyne Therapeutics during the 1st quarter worth $26,000. Allworth Financial LP purchased a new stake in shares of Dyne Therapeutics in the second quarter valued at about $62,000. Wellington Management Group LLP raised its holdings in shares of Dyne Therapeutics by 7.3% in the second quarter. Wellington Management Group LLP now owns 52,427 shares of the company’s stock valued at $1,164,000 after buying an additional 3,545 shares during the last quarter. Nykredit A S acquired a new stake in shares of Dyne Therapeutics during the second quarter worth about $113,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Dyne Therapeutics during the second quarter worth about $114,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.