Dyne Therapeutics (NASDAQ:DYN) Director Sells 480,240 Shares of Stock

Key Points

• Dyne Therapeutics director Jason Rhodes sold 480,240 shares on July 6 at an average price of $22.79, generating about $10.94 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Rhodes’ stake fell by 35.41%.
• DYN stock was flat at $23.83 in mid-day trading, near its 52-week high of $25.00. The company has a market cap of $3.94 billion and has traded above both its 50-day and 200-day moving averages.
• Dyne Therapeutics recently reported a quarterly loss of ($0.73) per share, beating analyst expectations of ($0.77). Despite ongoing losses, Wall Street currently has a Moderate Buy consensus with an average price target of $34.17.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) Director Jason Rhodes sold 480,240 shares of Dyne Therapeutics stock in a transaction 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 owned 875,912 shares in the company, valued at $19,962,034.48. This trade represents a 35.41% 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.

Dyne Therapeutics Price Performance

DYN stock remained flat at $23.83 during mid-day trading on Wednesday. 2,528,261 shares of the company's stock were exchanged, compared to its average volume of 2,034,586. The company has a debt-to-equity ratio of 0.17, a current ratio of 19.92 and a quick ratio of 19.92. Dyne Therapeutics, Inc. has a one year low of $8.24 and a one year high of $25.00. The stock has a 50 day simple moving average of $18.89 and a 200-day simple moving average of $18.24. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -7.40 and a beta of 1.06.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.04. During the same period last year, the company earned ($1.05) earnings per share. On average, equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Dyne Therapeutics by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 3,365,245 shares of the company's stock valued at $42,570,000 after purchasing an additional 278,466 shares in the last quarter. Aberdeen Group plc boosted its stake in Dyne Therapeutics by 99.0% during the fourth quarter. Aberdeen Group plc now owns 1,108,145 shares of the company's stock worth $21,675,000 after buying an additional 551,412 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Dyne Therapeutics during the fourth quarter worth $5,191,000. Fisher Asset Management LLC bought a new stake in Dyne Therapeutics in the 4th quarter valued at $4,891,000. Finally, Clearbridge Investments LLC bought a new stake in Dyne Therapeutics in the 4th quarter valued at $7,976,000. 96.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on DYN. Evercore set a $33.00 price target on Dyne Therapeutics in a research report on Friday, May 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Dyne Therapeutics in a research note on Monday, April 20th. TD Cowen initiated coverage on shares of Dyne Therapeutics in a research report on Friday, June 26th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Dyne Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Monday. Finally, Sanford C. Bernstein upped their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Dyne Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $34.17.

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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