Dyne Therapeutics (NASDAQ:DYN) Reaches New 12-Month Low – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $10.88 and last traded at $10.91, with a volume of 377079 shares. The stock had previously closed at $11.40.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Piper Sandler decreased their price objective on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Finally, Scotiabank started coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.46.

Dyne Therapeutics Stock Down 5.3 %

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -3.04 and a beta of 1.11. The stock has a 50 day simple moving average of $13.47 and a 200 day simple moving average of $23.83.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in shares of Dyne Therapeutics by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 30,537 shares of the company’s stock worth $1,097,000 after purchasing an additional 11,385 shares during the period. Quest Partners LLC raised its position in Dyne Therapeutics by 898.3% in the third quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock worth $123,000 after acquiring an additional 3,090 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dyne Therapeutics during the 3rd quarter valued at approximately $1,478,000. Intech Investment Management LLC purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter worth approximately $927,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Dyne Therapeutics by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,652 shares of the company’s stock valued at $23,300,000 after purchasing an additional 47,590 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Company Profile

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.