Dyne Therapeutics (NASDAQ:DYN) Issues Earnings Results

Dyne Therapeutics (NASDAQ:DYN) released its quarterly earnings data on Monday. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.01, RTT News reports. During the same period last year, the company earned ($1.05) EPS.

Dyne Therapeutics Price Performance

DYN stock traded up $0.59 during midday trading on Monday, reaching $18.20. 349,829 shares of the company’s stock traded hands, compared to its average volume of 2,062,577. The company has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $18.59. Dyne Therapeutics has a 1-year low of $8.06 and a 1-year high of $25.00. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -5.14 and a beta of 1.08. The company has a quick ratio of 22.25, a current ratio of 22.25 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling

In other news, Director Jason P. Rhodes sold 287,956 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $19.68, for a total transaction of $5,666,974.08. Following the sale, the director owned 11,663 shares in the company, valued at approximately $229,527.84. This represents a 96.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,552,911 shares of company stock valued at $29,694,469 over the last quarter. 20.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of Dyne Therapeutics by 523.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after purchasing an additional 14,727,667 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Dyne Therapeutics during the 4th quarter worth $93,926,000. Adage Capital Partners GP L.L.C. bought a new position in Dyne Therapeutics in the 2nd quarter valued at $30,378,000. Marshall Wace LLP increased its stake in shares of Dyne Therapeutics by 572.9% in the 3rd quarter. Marshall Wace LLP now owns 3,013,377 shares of the company’s stock valued at $38,119,000 after buying an additional 2,565,570 shares during the period. Finally, Vestal Point Capital LP increased its stake in shares of Dyne Therapeutics by 281.4% in the 3rd quarter. Vestal Point Capital LP now owns 2,775,000 shares of the company’s stock valued at $35,104,000 after buying an additional 2,047,500 shares during the period. 96.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley decreased their price target on Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Chardan Capital reiterated a “buy” rating and set a $38.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 9th. HC Wainwright reduced their target price on shares of Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

Dyne Therapeutics Company Profile

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor?mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.