Dyne Therapeutics (NASDAQ:DYN) Stock Bumped Down to Market Perform by Oppenheimer

Dyne Therapeutics (NASDAQ:DYN) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $15.00 price objective on the stock. Oppenheimer‘s price objective would indicate a potential downside of 11.45% from the stock’s previous close.

A number of other research firms have also recently commented on DYN. Stifel Nicolaus set a $37.00 price target on Dyne Therapeutics in a report on Wednesday, September 30th. HC Wainwright decreased their price objective on shares of Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Cantor Fitzgerald restated a “buy” rating on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $17.00 to $10.00 in a research note on Wednesday, September 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.29.

Dyne Therapeutics Price Performance

NASDAQ DYN opened at $16.94 on Wednesday. The firm has a market cap of $3.16 billion, a PE ratio of -5.09 and a beta of 1.12. Dyne Therapeutics has a one year low of $14.00 and a one year high of $27.31. The stock’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $19.32.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). As a group, equities analysts expect that Dyne Therapeutics will post -3.59 earnings per share for the current year.

Insider Activity

In related news, insider Douglas Kerr sold 3,745 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.35, for a total transaction of $91,190.75. Following the completion of the transaction, the insider directly owned 163,854 shares in the company, valued at approximately $3,989,844.90. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Cox sold 5,658 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total transaction of $106,823.04. Following the completion of the sale, the chief executive officer directly owned 357,507 shares of the company’s stock, valued at approximately $6,749,732.16. This trade represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 2,598,706 shares of company stock valued at $65,432,671. Company insiders own 9.46% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Dyne Therapeutics by 63.2% during the third quarter. GAMMA Investing LLC now owns 1,882 shares of the company’s stock valued at $30,000 after buying an additional 729 shares during the last quarter. Allworth Financial LP purchased a new stake in Dyne Therapeutics in the 2nd quarter worth $62,000. Sterling Capital Management LLC grew its position in shares of Dyne Therapeutics by 89.8% during the third quarter. Sterling Capital Management LLC now owns 3,720 shares of the company’s stock valued at $60,000 after purchasing an additional 1,760 shares in the last quarter. Nykredit A S bought a new position in Dyne Therapeutics during the second quarter valued at approximately $113,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Dyne Therapeutics in the 2nd quarter worth approximately $114,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for serious muscle diseases. The company’s research is centered on conditions in which the delivery of therapeutic molecules to skeletal muscle and other tissues is a significant challenge.

Dyne uses its proprietary FORCE platform to design targeted therapies intended to improve the delivery of oligonucleotides into muscle cells. The platform incorporates antibodies that bind to the transferrin receptor, which can help transport genetic medicines across cell membranes and into muscle tissue.

Dyne’s pipeline includes DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.