Dyne Therapeutics (NASDAQ:DYN) Trading Down 6.1% on Analyst Downgrade

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares were down 6.1% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $10.00 to $9.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Dyne Therapeutics traded as low as $8.40 and last traded at $8.37. Approximately 723,646 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 1,878,776 shares. The stock had previously closed at $8.91.

DYN has been the topic of a number of other research reports. Evercore ISI restated an “outperform” rating on shares of Dyne Therapeutics in a research report on Friday, July 11th. Chardan Capital reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, June 17th. Oppenheimer began coverage on Dyne Therapeutics in a research report on Monday, June 2nd. They set an “outperform” rating and a $34.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, June 18th. Finally, Raymond James Financial initiated coverage on Dyne Therapeutics in a report on Wednesday, June 11th. They set an “outperform” rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.63.

Insider Buying and Selling

In other news, CEO John Cox purchased 100,000 shares of the stock in a transaction on Monday, July 14th. The stock was purchased at an average price of $9.11 per share, for a total transaction of $911,000.00. Following the acquisition, the chief executive officer owned 242,179 shares in the company, valued at $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors have recently modified their holdings of the company. Compagnie Lombard Odier SCmA raised its stake in Dyne Therapeutics by 157.1% during the second quarter. Compagnie Lombard Odier SCmA now owns 18,000 shares of the company’s stock worth $171,000 after buying an additional 11,000 shares during the last quarter. Rhumbline Advisers grew its holdings in Dyne Therapeutics by 4.2% during the 1st quarter. Rhumbline Advisers now owns 133,627 shares of the company’s stock worth $1,398,000 after acquiring an additional 5,383 shares during the period. Optimize Financial Inc bought a new position in shares of Dyne Therapeutics in the 1st quarter worth about $154,000. Exome Asset Management LLC bought a new position in shares of Dyne Therapeutics in the 1st quarter worth about $2,703,000. Finally, Caxton Associates LLP bought a new position in shares of Dyne Therapeutics in the 1st quarter worth about $157,000. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Stock Performance

The business has a 50 day moving average price of $11.28 and a 200-day moving average price of $12.50. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.60 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). As a group, equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

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.