Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Should You Sell?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $23.05, but opened at $20.00. Dyne Therapeutics shares last traded at $18.09, with a volume of 866,512 shares traded.

Analysts Set New Price Targets

DYN has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded Dyne Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $35.00 in a research report on Thursday, October 24th. Robert W. Baird initiated coverage on Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a research report on Monday, September 23rd. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Finally, Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.91.

Dyne Therapeutics Price Performance

The company has a market capitalization of $1.62 billion, a PE ratio of -4.46 and a beta of 1.16. The company has a 50 day moving average of $27.04 and a two-hundred day moving average of $34.02.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Buying and Selling

In other news, Director Jason P. Rhodes sold 782 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total value of $25,884.20. Following the sale, the director now directly owns 15,962 shares of the company’s stock, valued at approximately $528,342.20. This represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlo Incerti sold 16,500 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,742 shares of company stock valued at $1,443,246 over the last ninety days. Company insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Dyne Therapeutics by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after purchasing an additional 4,236 shares in the last quarter. Virtue Capital Management LLC lifted its holdings in shares of Dyne Therapeutics by 4.4% during the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after purchasing an additional 981 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dyne Therapeutics by 4.8% during the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares in the last quarter. Barclays PLC lifted its holdings in shares of Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Dyne Therapeutics during the third quarter valued at $1,067,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.