Dyne Therapeutics (NASDAQ:DYN) Director Jason Rhodes Sells 309,268 Shares

Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Jason Rhodes sold 309,268 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $21.28, for a total value of $6,581,223.04. Following the completion of the sale, the director owned 1,016,633 shares of the company’s stock, valued at approximately $21,633,950.24. This trade represents a 23.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock traded up $0.95 during mid-day trading on Tuesday, reaching $22.21. 2,510,326 shares of the company were exchanged, compared to its average volume of 2,105,434. The firm has a market cap of $3.67 billion, a PE ratio of -6.90 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 19.92 and a quick ratio of 19.92. The company has a fifty day simple moving average of $18.52 and a 200-day simple moving average of $18.12. Dyne Therapeutics, Inc. has a 12 month low of $8.06 and a 12 month high of $25.00.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.04. During the same period in the prior year, the company earned ($1.05) EPS. As a group, equities research analysts expect that Dyne Therapeutics, Inc. will post -3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DYN has been the topic of a number of research analyst reports. Wall Street Zen raised Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. TD Cowen initiated coverage on Dyne Therapeutics in a research note on Friday. They issued a “buy” rating on the stock. Evercore set a $33.00 price target on shares of Dyne Therapeutics in a research note on Friday, May 15th. Chardan Capital reiterated a “buy” rating and set a $38.00 price target on shares of Dyne Therapeutics in a report on Monday, March 9th. Finally, Morgan Stanley dropped their price target on Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.17.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds have recently added to or reduced their stakes in DYN. T. Rowe Price Investment Management Inc. increased its position in Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after acquiring an additional 14,727,667 shares during the period. Vanguard Group Inc. raised its position in Dyne Therapeutics by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock worth $219,376,000 after purchasing an additional 1,455,151 shares during the last quarter. State Street Corp lifted its holdings in Dyne Therapeutics by 27.0% during the 4th quarter. State Street Corp now owns 6,692,745 shares of the company’s stock worth $130,910,000 after buying an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Dyne Therapeutics by 45.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock valued at $101,164,000 after buying an additional 1,618,000 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at about $93,926,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.