Dyne Therapeutics (NASDAQ:DYN) Issues Earnings Results

Dyne Therapeutics (NASDAQ:DYN) posted its quarterly earnings data on Wednesday. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.34), FiscalAI reports.

Dyne Therapeutics Stock Down 3.1%

Shares of DYN opened at $25.10 on Thursday. Dyne Therapeutics has a 12-month low of $9.32 and a 12-month high of $26.26. The firm has a fifty day moving average price of $20.91 and a 200-day moving average price of $18.77. The firm has a market capitalization of $4.68 billion, a P/E ratio of -7.80 and a beta of 1.06. The company has a current ratio of 19.92, a quick ratio of 19.92 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DYN. Cantor Fitzgerald assumed coverage on Dyne Therapeutics in a research report on Thursday, July 23rd. They issued an “overweight” rating for the company. Sanford C. Bernstein increased their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Wall Street Zen raised shares of Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, July 6th. Finally, TD Cowen assumed coverage on shares of Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.17.

Insider Activity at Dyne Therapeutics

In related news, CFO Erick Lucera sold 2,362 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the transaction, the chief financial officer owned 121,563 shares of the company’s stock, valued at $2,476,238.31. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $16.94 per share, for a total transaction of $33,880.00. Following the purchase, the director owned 24,500 shares of the company’s stock, valued at $415,030. This represents a 8.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 9,000 shares of company stock worth $156,800 and sold 1,665,542 shares worth $36,321,576. 9.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after acquiring an additional 14,727,667 shares in 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 in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Dyne Therapeutics by 45.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock valued at $101,164,000 after buying an additional 1,618,000 shares during the period. Orbis Allan Gray Ltd bought a new position in Dyne Therapeutics in the fourth quarter worth approximately $93,926,000. Finally, TCG Crossover Management LLC lifted its holdings in Dyne Therapeutics by 22.5% during the third quarter. TCG Crossover Management LLC now owns 4,615,144 shares of the company’s stock worth $58,382,000 after buying an additional 848,484 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

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.