Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 6.6% on Disappointing Earnings

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) dropped 6.6% on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $14.00 and last traded at $14.5960. Approximately 316,576 shares were traded during trading, a decline of 84% from the average daily volume of 1,972,522 shares. The stock had previously closed at $15.62.

The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.02).

Wall Street Analysts Forecast Growth

DYN has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Dyne Therapeutics from $23.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Sanford C. Bernstein set a $23.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, December 9th. Chardan Capital restated a “buy” rating and issued a $38.00 target price on shares of Dyne Therapeutics in a report on Tuesday, December 9th. Robert W. Baird set a $30.00 price target on Dyne Therapeutics in a report on Monday, December 8th. Finally, Stifel Nicolaus boosted their price target on Dyne Therapeutics from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.63.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC grew its position in shares of Dyne Therapeutics by 0.5% during the 3rd quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock worth $2,195,000 after buying an additional 861 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Dyne Therapeutics by 11.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company’s stock valued at $91,000 after purchasing an additional 955 shares during the last quarter. Creative Planning grew its holdings in shares of Dyne Therapeutics by 6.8% during the 3rd quarter. Creative Planning now owns 15,527 shares of the company’s stock valued at $196,000 after purchasing an additional 986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Dyne Therapeutics by 25.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,500 shares of the company’s stock valued at $70,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Caxton Associates LLP increased its stake in shares of Dyne Therapeutics by 10.9% in the second quarter. Caxton Associates LLP now owns 16,599 shares of the company’s stock valued at $158,000 after buying an additional 1,627 shares during the period. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Up 2.3%

The company has a market cap of $2.28 billion, a price-to-earnings ratio of -4.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.47 and a quick ratio of 13.47. The business’s fifty day moving average price is $17.57 and its 200 day moving average price is $17.01.

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.