Dyne Therapeutics slides after unveiling $300 million stock offering

Drug developer Dyne Therapeutics' DYN.O shares slide 14% to $19.09

DYN late Monday kicked off public offering of $300 million worth of shares

Stock closed up 9.5% on Monday after positive data for its muscle wasting drug

Morgan Stanley, Jefferies, Stifel and Guggenheim Securities are joint book-running managers for offering

Proceeds will be used to repay debt and advance the development of its pipeline, among other purposes

DYN has 142.6 million outstanding shares as of September 30, according to its prospectus

13 of 16 brokerages rate the stock "buy" or higher and three "hold"; median PT $38 - data compiled by LSEG

As of last close, DYN stock was down 5.8% YTD