Jason Rhodes Sells 147,760 Shares of Dyne Therapeutics (NASDAQ:DYN) Stock

Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Jason Rhodes sold 147,760 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $21.13, for a total value of $3,122,168.80. Following the sale, the director directly owned 1,106,036 shares in the company, valued at $23,370,540.68. This trade represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dyne Therapeutics Stock Up 1.4%

Shares of NASDAQ DYN opened at $20.61 on Friday. The company has a quick ratio of 19.92, a current ratio of 19.92 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.41 billion, a P/E ratio of -6.40 and a beta of 1.09. Dyne Therapeutics, Inc. has a 52 week low of $8.06 and a 52 week high of $25.00. The business has a 50-day simple moving average of $18.43 and a two-hundred day simple moving average of $18.09.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.04. During the same period in the prior year, the firm earned ($1.05) EPS. Research analysts anticipate that Dyne Therapeutics, Inc. will post -3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. lifted its stake in shares of Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after acquiring an additional 14,727,667 shares during the last quarter. Vanguard Group Inc. lifted its position in Dyne Therapeutics by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock valued at $219,376,000 after purchasing an additional 1,455,151 shares during the last quarter. State Street Corp boosted its stake in shares of Dyne Therapeutics by 27.0% during the fourth quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after purchasing an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Dyne Therapeutics by 45.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock worth $101,164,000 after purchasing an additional 1,618,000 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new position in shares of Dyne Therapeutics in the fourth quarter worth approximately $93,926,000. 96.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DYN has been the subject of a number of recent analyst reports. HC Wainwright reduced their price target on shares of Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Evercore set a $33.00 target price on Dyne Therapeutics in a research report on Friday, May 15th. TD Cowen assumed coverage on Dyne Therapeutics in a report on Friday. They issued a “buy” rating on the stock. Morgan Stanley dropped their target price on shares of Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Finally, Sanford C. Bernstein increased their price target on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.17.

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.