Dyne Therapeutics (NASDAQ:DYN) Announces Quarterly Earnings Results, Misses Expectations By $0.34 EPS

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

Dyne Therapeutics Stock Performance

DYN traded down $0.80 on Wednesday, hitting $25.10. 2,104,646 shares of the company’s stock were exchanged, compared to its average volume of 2,118,053. The company has a current ratio of 19.92, a quick ratio of 19.92 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $20.76 and a two-hundred day moving average of $18.72. Dyne Therapeutics has a twelve month low of $9.32 and a twelve month high of $26.26. The firm has a market cap of $4.68 billion, a PE ratio of -7.80 and a beta of 1.06.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DYN shares. Cantor Fitzgerald assumed coverage on Dyne Therapeutics in a report on Thursday, July 23rd. They set an “overweight” rating on the stock. Sanford C. Bernstein boosted their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. TD Cowen started coverage on Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating on the stock. Wall Street Zen upgraded Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, July 6th. Finally, Evercore set a $33.00 price objective on shares of Dyne Therapeutics in a report on Friday, May 15th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.17.

Insider Buying and Selling

In other news, Director Jason P. Rhodes sold 480,240 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.79, for a total transaction of $10,944,669.60. Following the completion of the transaction, the director directly owned 875,912 shares of the company’s stock, valued at approximately $19,962,034.48. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 9,000 shares of company stock valued at $156,800 and sold 1,665,542 shares valued at $36,321,576. 9.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its stake 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 buying an additional 14,727,667 shares during the last quarter. State Street Corp lifted its stake in Dyne Therapeutics by 27.0% in the fourth quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after buying an additional 1,423,828 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in 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 valued at $101,164,000 after buying an additional 1,618,000 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Dyne Therapeutics during the fourth quarter valued at $93,926,000. Finally, TCG Crossover Management LLC boosted its holdings in shares of Dyne Therapeutics by 22.5% during the third quarter. TCG Crossover Management LLC now owns 4,615,144 shares of the company’s stock valued at $58,382,000 after acquiring an additional 848,484 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.