Dyne Therapeutics (NASDAQ:DYN) Reaches New 52-Week Low – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price reached a new 52-week low on Thursday . The stock traded as low as $13.05 and last traded at $13.08, with a volume of 1281301 shares trading hands. The stock had previously closed at $13.79.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Chardan Capital reissued a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Friday, January 10th. Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Baird R W raised shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Stock Down 4.5 %

The stock’s 50-day simple moving average is $17.41 and its two-hundred day simple moving average is $28.03. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.70 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. On average, sell-side analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the completion of the sale, the senior vice president now owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,387 shares of company stock valued at $142,789. Corporate insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Dyne Therapeutics by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company’s stock valued at $5,532,000 after purchasing an additional 698 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Dyne Therapeutics by 24.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company’s stock valued at $123,000 after buying an additional 709 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Dyne Therapeutics by 9.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock valued at $203,000 after acquiring an additional 721 shares during the last quarter. KBC Group NV grew its position in Dyne Therapeutics by 53.4% in the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after acquiring an additional 751 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Dyne Therapeutics in the third quarter worth approximately $34,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.