Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Dyne Therapeutics has a “Moderate Buy” consensus rating from 16 brokerages, with 11 buy ratings, two strong buys, one hold and two sells. The average 12-month price target is $32.17, despite several recent target-price reductions.
• Shares fell 3.3% to $17.90, while the company reported a quarterly loss of $1.08 per share—$0.33 worse than analysts expected. Analysts project a full-year loss of $3.59 per share.
• Insiders sold approximately $99.7 million of stock during the last quarter, including a major sale by director Jason P. Rhodes. Institutional investors continue to hold a substantial 96.68% of the company.

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.1667.

Several brokerages recently issued reports on DYN. Royal Bank Of Canada lowered their target price on Dyne Therapeutics from $35.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Robert W. Baird reduced their price target on Dyne Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 9th. Wall Street Zen cut Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Cantor Fitzgerald initiated coverage on Dyne Therapeutics in a research report on Thursday, July 23rd. They set an "overweight" rating for the company. Finally, Morgan Stanley cut their price objective on Dyne Therapeutics from $45.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th.

Insider Activity

In other news, Director Jason P. Rhodes sold 2,160,516 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director owned 428,946 shares in the company, valued at approximately $10,723,650. The trade was a 83.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erick Lucera sold 2,362 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total transaction of $48,113.94. Following the completion of the sale, the chief financial officer directly owned 121,563 shares in the company, valued at approximately $2,476,238.31. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,150,974 shares of company stock worth $99,697,629. 9.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in Dyne Therapeutics during the second quarter valued at $300,000. Nykredit A S bought a new position in shares of Dyne Therapeutics in the 2nd quarter worth about $113,000. Moore Capital Management LP raised its position in shares of Dyne Therapeutics by 288.2% in the 2nd quarter. Moore Capital Management LP now owns 305,794 shares of the company's stock worth $6,792,000 after acquiring an additional 227,029 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at about $222,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at about $5,448,000. Institutional investors and hedge funds own 96.68% of the company's stock.

Dyne Therapeutics Trading Down 3.3%

Shares of NASDAQ DYN opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. Dyne Therapeutics has a 52-week low of $11.92 and a 52-week high of $27.31. The firm has a 50 day moving average price of $24.38 and a two-hundred day moving average price of $20.59. The stock has a market cap of $3.34 billion, a P/E ratio of -5.38 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, equities analysts forecast that Dyne Therapeutics will post -3.59 EPS for the current year.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne's research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.

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