Dyne Therapeutics (NASDAQ:DYN) Issues Quarterly Earnings Results

Dyne Therapeutics (NASDAQ:DYN) posted its quarterly earnings data on Thursday. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.15), FiscalAI reports. During the same period in the previous year, the company posted ($0.76) earnings per share.

Dyne Therapeutics Trading Up 4.1%

DYN traded up $0.71 during midday trading on Friday, hitting $18.07. 2,359,185 shares of the company were exchanged, compared to its average volume of 2,812,952. The firm has a market capitalization of $3.37 billion, a P/E ratio of -4.98 and a beta of 1.22. Dyne Therapeutics has a 1-year low of $14.00 and a 1-year high of $27.31. The firm’s 50 day moving average price is $17.70 and its 200-day moving average price is $19.33. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28.

Analyst Ratings Changes

Several research firms have commented on DYN. Cantor Fitzgerald reissued a “buy” rating on shares of Dyne Therapeutics in a report on Wednesday, September 30th. Wall Street Zen downgraded shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Jefferies Financial Group reiterated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $37.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.29.

Insider Activity

In related news, Director Jason Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the transaction, the director owned 428,946 shares of the company’s stock, valued at $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas Kerr sold 3,745 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider directly owned 163,854 shares in the company, valued at $3,989,844.90. This represents a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 2,598,706 shares of company stock worth $65,432,671. 9.46% of the stock is owned by company insiders.

Dyne Therapeutics Company Profile

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.