Dyne Therapeutics (NASDAQ:DYN) Cut to Market Perform at Oppenheimer

Oppenheimer lowered shares of Dyne Therapeutics (NASDAQ:DYN) from an outperform rating to a market perform rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $15.00 target price on the stock, down from their previous target price of $40.00.

A number of other equities research analysts have also weighed in on DYN. Royal Bank Of Canada cut their price objective on Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 29th. Stifel Nicolaus set a $37.00 price target on Dyne Therapeutics in a research note on Wednesday, September 30th. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $16.69 on Wednesday. The company has a current ratio of 12.02, a quick ratio of 12.02 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $18.53 and a 200-day moving average of $19.31. The firm has a market cap of $3.12 billion, a P/E ratio of -5.01 and a beta of 1.12. Dyne Therapeutics has a 1-year low of $14.00 and a 1-year high of $27.31.

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

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox sold 5,658 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 2,160,516 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the completion of the transaction, the director directly owned 428,946 shares of the company’s stock, valued at $10,723,650. This represents a 83.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 2,598,706 shares of company stock valued at $65,432,671. 9.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Dyne Therapeutics by 63.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,882 shares of the company’s stock worth $30,000 after buying an additional 729 shares during the period. Sterling Capital Management LLC lifted its position in Dyne Therapeutics by 89.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,720 shares of the company’s stock valued at $60,000 after acquiring an additional 1,760 shares during the period. Allworth Financial LP purchased a new position in Dyne Therapeutics during the 2nd quarter valued at about $62,000. IFP Advisors Inc lifted its position in Dyne Therapeutics by 56.5% during the 3rd quarter. IFP Advisors Inc now owns 5,879 shares of the company’s stock valued at $95,000 after acquiring an additional 2,123 shares during the period. Finally, Nykredit A S bought a new stake in Dyne Therapeutics during the second quarter worth about $113,000. 96.68% of the stock is currently owned by institutional investors.

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.