Dyne Therapeutics (NASDAQ:DYN) Stock Crosses Above Fifty Day Moving Average Following Weak Earnings

Key Points

• Dyne Therapeutics shares rose above their 50-day moving average, reaching $18.33 and last trading at $18.07, despite reporting a quarterly loss of $1.06 per share, wider than analysts’ expected $0.91 loss and the year-earlier $0.76 loss.
• Analyst views were mixed: the stock has a “Moderate Buy” consensus and an average price target of $31.29, while recent target changes ranged from Oppenheimer’s cut to $15 to Piper Sandler’s $47 target.
• Insiders sold about 2.6 million shares worth $65.4 million over the past 90 days; institutional investors own 96.68% of the stock.

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) crossed above its fifty day moving average during trading on Friday following a stronger than expected earnings report. The stock has a fifty day moving average of $17.70 and traded as high as $18.33. Dyne Therapeutics shares last traded at $18.07, with a volume of 2,359,185 shares trading hands.

The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.15). During the same period in the previous year, the business earned ($0.76) EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $47.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 29th. Oppenheimer downgraded shares of Dyne Therapeutics from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $40.00 to $15.00 in a research report on Wednesday, October 28th. HC Wainwright lowered their price objective on Dyne Therapeutics from $50.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. Jefferies Financial Group restated a "buy" rating and set a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, September 30th. Finally, Wall Street Zen downgraded shares of Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.29.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason Rhodes sold 2,160,516 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the sale, the director directly owned 428,946 shares in the company, valued at approximately $10,723,650. This trade represents a 83.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Cox sold 5,658 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total transaction of $106,823.04. Following the transaction, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,598,706 shares of company stock valued at $65,432,671 in the last ninety days. 9.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Dyne Therapeutics during the second quarter worth $275,500,000. Jupiter Topco LLC acquired a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at $266,634,000. Bank of America Corp DE purchased a new stake in Dyne Therapeutics in the second quarter valued at $49,604,000. Palo Alto Investors LP purchased a new stake in Dyne Therapeutics in the 2nd quarter valued at $36,591,441. Finally, Perceptive Advisors LLC boosted its holdings in shares of Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company's stock valued at $84,646,000 after acquiring an additional 1,189,895 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Price Performance

The company has a 50 day moving average price of $17.70 and a 200 day moving average price of $19.33. The firm has a market cap of $3.37 billion, a PE ratio of -4.98 and a beta of 1.22. The company has a current ratio of 12.02, a quick ratio of 12.02 and a debt-to-equity ratio of 0.28.

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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