Dyne Therapeutics (NASDAQ:DYN) Issues Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Key Points

• Dyne Therapeutics reported a quarterly loss of $1.06 per share, missing the consensus estimate of a $0.91 loss by $0.15; it had reported a $0.76-per-share loss in the year-ago quarter.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $31.29. Recent target changes were mixed, including HC Wainwright cutting its target to $32 and Oppenheimer lowering its target to $15.
• Insiders sold a combined 2.6 million shares worth about $65.4 million over the past 90 days. Director Jason P. Rhodes’s sale of 2.16 million shares was made under a pre-arranged Rule 10b5-1 plan.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.15), FiscalAI reports. During the same quarter in the previous year, the company earned ($0.76) EPS.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN traded up $0.71 during midday trading on Friday, reaching $18.07. The company's stock had a trading volume of 2,359,185 shares, compared to its average volume of 2,812,952. The business's fifty day simple moving average is $17.70 and its 200-day simple moving average is $19.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. Dyne Therapeutics has a fifty-two week low of $14.00 and a fifty-two week high of $27.31. The company has a market capitalization of $3.37 billion, a P/E ratio of -4.98 and a beta of 1.22.

Insider Activity at Dyne Therapeutics

In related news, insider Douglas Kerr sold 3,745 shares of Dyne Therapeutics stock in a transaction on Friday, September 4th. The stock was sold at an average price of $24.35, for a total transaction of $91,190.75. Following the completion of the sale, the insider directly owned 163,854 shares of the company's stock, valued at $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 2,160,516 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 428,946 shares of the company's stock, valued at approximately $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,598,706 shares of company stock valued at $65,432,671 over the last ninety days. Company insiders own 9.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright dropped their price target on Dyne Therapeutics from $50.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, September 30th. Wall Street Zen cut Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Stifel Nicolaus set a $37.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. Oppenheimer lowered shares of Dyne Therapeutics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $40.00 to $15.00 in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $50.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.29.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for serious muscle diseases. The company's research is centered on conditions in which the delivery of therapeutic molecules to skeletal muscle and other tissues is a significant challenge.

Dyne uses its proprietary FORCE platform to design targeted therapies intended to improve the delivery of oligonucleotides into muscle cells. The platform incorporates antibodies that bind to the transferrin receptor, which can help transport genetic medicines across cell membranes and into muscle tissue.

Dyne's pipeline includes DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.

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