Insider Selling: Dyne Therapeutics (NASDAQ:DYN) Director Sells $54,012,900.00 in Stock

Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Jason Rhodes sold 2,160,516 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the transaction, the director directly owned 428,946 shares in the company, valued at approximately $10,723,650. This represents a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dyne Therapeutics Trading Up 1.8%

Dyne Therapeutics stock traded up $0.45 during midday trading on Monday, hitting $26.15. 1,317,571 shares of the stock were exchanged, compared to its average volume of 2,103,342. The company has a current ratio of 12.02, a quick ratio of 12.02 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $22.83 and its 200 day simple moving average is $19.50. Dyne Therapeutics, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $27.31. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -7.85 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.37 EPS for the current year.

Institutional Investors Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 period. BlackRock Inc. purchased a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $275,500,000. Jupiter Topco LLC purchased a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $266,634,000. Orbis Allan Gray Ltd acquired a new stake in Dyne Therapeutics during the 4th quarter worth approximately $93,926,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $30,378,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen initiated coverage on Dyne Therapeutics in a research report on Friday, June 26th. They issued a “buy” rating for the company. Evercore set a $33.00 target price on Dyne Therapeutics in a research report on Friday, May 15th. Morgan Stanley lowered their price target on Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research note on Monday. Finally, Royal Bank Of Canada upped their price objective on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $34.42.

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.