Dyne Therapeutics (NASDAQ:DYN) Hits New 12-Month Low – What’s Next?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares reached a new 52-week low on Monday . The company traded as low as $8.15 and last traded at $8.17, with a volume of 2602714 shares changing hands. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Robert W. Baird began coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research report on Monday, March 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.46.

Dyne Therapeutics Trading Down 7.1 %

The firm has a fifty day moving average of $12.81 and a two-hundred day moving average of $22.52. The company has a market capitalization of $869.90 million, a PE ratio of -2.16 and a beta of 1.21.

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

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 6,237 shares of company stock worth $77,760 over the last quarter. 20.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Dyne Therapeutics by 5.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,334 shares of the company’s stock valued at $4,825,000 after buying an additional 6,784 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Dyne Therapeutics in the third quarter worth $36,000. State Street Corp increased its position in Dyne Therapeutics by 13.8% during the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after acquiring an additional 440,890 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Dyne Therapeutics in the third quarter valued at about $573,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.