Dyne Therapeutics (NASDAQ:DYN) Announces Quarterly Earnings Results

Dyne Therapeutics (NASDAQ:DYN) issued its quarterly earnings data on Monday. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.04, RTT News reports. During the same period in the prior year, the company posted ($1.05) earnings per share.

Dyne Therapeutics Trading Up 4.8%

DYN opened at $18.46 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 22.25 and a quick ratio of 22.25. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -5.21 and a beta of 1.08. The firm has a 50 day simple moving average of $18.12 and a 200 day simple moving average of $18.60. Dyne Therapeutics has a fifty-two week low of $8.06 and a fifty-two week high of $25.00.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. HC Wainwright cut their price objective on Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Monday, April 20th. JPMorgan Chase & Co. dropped their target price on shares of Dyne Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research note on Monday, March 9th. Finally, Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Insider Buying and Selling at Dyne Therapeutics

In related news, Director Jason P. Rhodes sold 83,219 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $18.18, for a total transaction of $1,512,921.42. Following the completion of the sale, the director directly owned 7,962 shares of the company’s stock, valued at $144,749.16. The trade was a 91.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,552,911 shares of company stock worth $29,694,469 over the last ninety days. Insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in Dyne Therapeutics by 523.7% in 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. Invesco Ltd. increased its holdings in Dyne Therapeutics by 17.1% in the fourth quarter. Invesco Ltd. now owns 137,684 shares of the company’s stock valued at $2,693,000 after purchasing an additional 20,121 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in Dyne Therapeutics in the fourth quarter valued at about $2,226,000. XTX Topco Ltd increased its holdings in Dyne Therapeutics by 93.9% in the fourth quarter. XTX Topco Ltd now owns 56,661 shares of the company’s stock valued at $1,108,000 after purchasing an additional 27,446 shares during the last quarter. Finally, Virtus Investment Advisers LLC increased its holdings in Dyne Therapeutics by 75.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 13,806 shares of the company’s stock valued at $270,000 after purchasing an additional 5,937 shares during the last quarter. 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.