Dyne Therapeutics (NASDAQ:DYN) Shares Down 3% on Insider Selling

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price traded down 3% on Tuesday following insider selling activity. The stock traded as low as $33.42 and last traded at $33.60. 84,112 shares traded hands during trading, a decline of 95% from the average session volume of 1,598,878 shares. The stock had previously closed at $34.63.

Specifically, Director Dirk Kersten sold 40,831 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the transaction, the director now directly owns 193,296 shares in the company, valued at approximately $6,827,214.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the sale, the director now owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. The disclosure for this sale can be found here. In other news, insider Oxana Beskrovnaya sold 2,339 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $80,812.45. Following the transaction, the insider now directly owns 140,375 shares in the company, valued at $4,849,956.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DYN shares. Oppenheimer restated an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Guggenheim raised their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.40.

Dyne Therapeutics Price Performance

The stock has a market cap of $3.05 billion, a PE ratio of -8.79 and a beta of 1.07. The company’s fifty day moving average is $40.55 and its 200-day moving average is $33.78.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.02. Analysts expect that Dyne Therapeutics, Inc. will post -2.96 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in shares of Dyne Therapeutics in the first quarter worth about $140,666,000. Vanguard Group Inc. raised its holdings in Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after purchasing an additional 1,110,629 shares during the period. Janus Henderson Group PLC boosted its position in Dyne Therapeutics by 23,512.0% during the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock worth $75,915,000 after purchasing an additional 2,663,910 shares in the last quarter. Artal Group S.A. boosted its position in Dyne Therapeutics by 24.6% during the first quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock worth $43,095,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Dyne Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock valued at $42,881,000 after purchasing an additional 114,888 shares during the period. 96.68% of the stock is 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.