Dyne Therapeutics (NASDAQ:DYN) Shares Climb 5.7% - Should You Buy?

Key Points

• Dyne Therapeutics shares rose 5.7% to about $15.07, though trading volume was 89% below the average session level.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $33.07; individual targets range from $26 to $50.
• The company reported a larger-than-expected quarterly loss of $1.08 per share versus the $0.75 estimate, while insiders sold roughly $65.4 million of stock over the past quarter. Dyne is developing genetic medicines for neuromuscular diseases, including investigational treatments for myotonic dystrophy and Duchenne muscular dystrophy.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report)'s share price shot up 5.7% during mid-day trading on Monday. The company traded as high as $14.87 and last traded at $15.0670. Approximately 252,044 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,307,675 shares. The stock had previously closed at $14.25.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. TD Cowen began coverage on shares of Dyne Therapeutics in a research report on Friday, June 26th. They issued a "buy" rating for the company. Piper Sandler restated an "overweight" rating and set a $47.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 29th. Royal Bank Of Canada decreased their price target on shares of Dyne Therapeutics from $35.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Finally, Robert W. Baird lowered their price target on Dyne Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Dyne Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $33.07.

Dyne Therapeutics Stock Performance

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 firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -4.49 and a beta of 1.12. The company has a 50-day moving average of $20.49 and a 200-day moving average of $20.40.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.33). On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.59 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 2,160,516 shares of the business'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 sale, the director directly owned 428,946 shares in the company, valued at approximately $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian S. Posner bought 2,500 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the director directly owned 27,000 shares in the company, valued at approximately $432,000. This represents a 10.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 2,598,706 shares of company stock valued at $65,432,671 over the last quarter. Corporate insiders own 9.46% of the company's stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Dyne Therapeutics during the second quarter valued at $275,500,000. Jupiter Topco LLC purchased a new stake in Dyne Therapeutics in the 2nd quarter worth about $266,634,000. Perceptive Advisors LLC lifted its stake in Dyne Therapeutics by 34.2% in the 1st quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company's stock worth $84,646,000 after acquiring an additional 1,189,895 shares in the last quarter. Orbimed Advisors LLC boosted its position in Dyne Therapeutics by 32.5% during the 1st quarter. Orbimed Advisors LLC now owns 2,917,884 shares of the company's stock worth $52,901,000 after acquiring an additional 715,700 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Dyne Therapeutics during the 2nd quarter worth about $49,604,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing genetic medicines for serious neuromuscular diseases. The company's research is centered on its FORCE platform, which is designed to use targeted antibodies to deliver oligonucleotide-based therapies to skeletal muscle and other relevant tissues.

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

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