Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN – Get Free Report) crossed above its 50 day moving average during trading on Friday following a stronger than expected earnings report. The stock has a 50 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 traded.
The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.15). During the same period in the previous year, the company earned ($0.76) EPS.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on DYN shares. JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $17.00 to $10.00 in a research note on Wednesday, September 9th. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. Wall Street Zen downgraded 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 target on Dyne Therapeutics in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.29.
Check Out Our Latest Stock Report on DYN
Insider Buying and Selling
In related news, Director Brian Posner purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were acquired at an average price of $16.00 per share, for a total transaction of $40,000.00. Following the purchase, the director owned 27,000 shares in the company, valued at approximately $432,000. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas Kerr sold 3,745 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.35, for a total transaction of $91,190.75. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 2,598,706 shares of company stock worth $65,432,671. Company insiders own 9.46% of the company’s stock.
Institutional Trading of Dyne Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Dyne Therapeutics in the 2nd quarter valued at about $275,500,000. Jupiter Topco LLC acquired a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $266,634,000. Perceptive Advisors LLC grew its holdings in Dyne Therapeutics by 34.2% during the 1st quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock valued at $84,646,000 after purchasing an additional 1,189,895 shares in the last quarter. Orbimed Advisors LLC lifted its position in shares of Dyne Therapeutics by 32.5% during the first quarter. Orbimed Advisors LLC now owns 2,917,884 shares of the company’s stock worth $52,901,000 after purchasing an additional 715,700 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Dyne Therapeutics during the 2nd quarter valued at approximately $49,604,000. 96.68% of the stock is owned by institutional investors and hedge funds.
Dyne Therapeutics Trading Up 4.1%
The business’s 50 day moving average price is $17.70 and its two-hundred day moving average price is $19.33. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -4.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02.
Dyne Therapeutics Company Profile
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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