Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 5.8%

Dyne Therapeutics, Inc. (NASDAQ:DYN – Get Rating) shares were down 5.8% during mid-day trading on Wednesday . The stock traded as low as $12.70 and last traded at $12.90. Approximately 34,861 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 352,754 shares. The stock had previously closed at $13.70.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DYN shares. Oppenheimer started coverage on Dyne Therapeutics in a research report on Tuesday, February 14th. They issued an “outperform” rating and a $34.00 price objective for the company. Raymond James raised Dyne Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $16.00 to $27.00 in a research report on Monday, February 27th. Guggenheim started coverage on Dyne Therapeutics in a research report on Thursday, January 26th. They set a “buy” rating and a $33.00 price target for the company. StockNews.com raised Dyne Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 21st. Finally, Chardan Capital upped their price target on Dyne Therapeutics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Dyne Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.83.

Dyne Therapeutics Stock Down 7.6 %

The business has a 50 day moving average of $11.61 and a two-hundred day moving average of $12.21.

Dyne Therapeutics (NASDAQ:DYN – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.10. On average, equities analysts expect that Dyne Therapeutics, Inc. will post -3.18 earnings per share for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Dyne Therapeutics by 8.9% during the first quarter. Principal Financial Group Inc. now owns 11,619 shares of the company’s stock valued at $134,000 after purchasing an additional 950 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Dyne Therapeutics by 6.1% in the first quarter. Deutsche Bank AG now owns 19,517 shares of the company’s stock worth $225,000 after acquiring an additional 1,117 shares during the period. SG Americas Securities LLC grew its holdings in shares of Dyne Therapeutics by 14.1% in the first quarter. SG Americas Securities LLC now owns 11,183 shares of the company’s stock worth $129,000 after acquiring an additional 1,380 shares during the period. Swiss National Bank grew its holdings in shares of Dyne Therapeutics by 2.8% in the fourth quarter. Swiss National Bank now owns 62,500 shares of the company’s stock worth $724,000 after acquiring an additional 1,700 shares during the period. Finally, Credit Suisse AG grew its holdings in shares of Dyne Therapeutics by 10.6% in the second quarter. Credit Suisse AG now owns 18,015 shares of the company’s stock worth $124,000 after acquiring an additional 1,729 shares during the period. 85.50% of the stock is owned by hedge funds and other institutional investors.

About Dyne Therapeutics

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Dyne Therapeutics, Inc, a muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It develops various programs for 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.