Dyne Therapeutics (NASDAQ:DYN) Announces Earnings Results

Key Points

• Dyne Therapeutics reported quarterly earnings of ($0.73) per share, narrowly beating analysts’ estimate of ($0.74) and improving from ($1.05) per share in the same quarter last year.
• The stock rose to $18.22 on Monday, though trading volume of 336,444 shares was well below its average volume, and the company currently has a market cap of about $3.01 billion.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $35.14; meanwhile, insiders and institutions hold significant stakes in the company.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) issued its earnings results on Monday. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.01, RTT News reports. During the same period in the prior year, the business earned ($1.05) EPS.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock traded up $0.61 during trading hours on Monday, hitting $18.22. 336,444 shares of the stock traded hands, compared to its average volume of 2,062,577. 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 firm's 50 day moving average price is $18.05 and its 200-day moving average price is $18.59. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -5.15 and a beta of 1.08. Dyne Therapeutics has a 1 year low of $8.06 and a 1 year high of $25.00.

Analyst Ratings Changes

DYN has been the subject of a number of research analyst reports. Chardan Capital reaffirmed a "buy" rating and set a $38.00 target price on shares of Dyne Therapeutics in a research report on Monday, March 9th. Wall Street Zen lowered Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. HC Wainwright decreased their target price 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. Morgan Stanley decreased their target price on Dyne Therapeutics from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Dyne Therapeutics from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.14.

Insiders Place Their Bets

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 83,219 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $18.18, for a total transaction of $1,512,921.42. Following the sale, the director owned 7,962 shares in the company, valued at approximately $144,749.16. The trade was a 91.27% decrease in their position. 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 quarter, insiders sold 1,552,911 shares of company stock worth $29,694,469. 20.77% of the stock is currently owned by insiders.

Institutional Trading of Dyne Therapeutics

A number of hedge funds have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. raised its holdings in Dyne Therapeutics by 523.7% in 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 purchasing an additional 14,727,667 shares during the period. Orbis Allan Gray Ltd acquired a new position in Dyne Therapeutics in the 4th quarter worth about $93,926,000. Adage Capital Partners GP L.L.C. acquired a new position in Dyne Therapeutics in the 2nd quarter worth about $30,378,000. Marshall Wace LLP raised its holdings in Dyne Therapeutics by 572.9% in the 3rd quarter. Marshall Wace LLP now owns 3,013,377 shares of the company's stock worth $38,119,000 after purchasing an additional 2,565,570 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Dyne Therapeutics by 281.4% in the 3rd quarter. Vestal Point Capital LP now owns 2,775,000 shares of the company's stock worth $35,104,000 after purchasing an additional 2,047,500 shares during the period. Hedge funds and other 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.

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