Dyne Therapeutics (NASDAQ:DYN) Stock Price Down 6.6% on Disappointing Earnings

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price dropped 6.6% during trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $14.00 and last traded at $14.5960. Approximately 316,576 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,972,522 shares. The stock had previously closed at $15.62.

The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.02).

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DYN. Robert W. Baird set a $30.00 target price on shares of Dyne Therapeutics in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Wednesday, January 21st. Chardan Capital reaffirmed a “buy” rating and set a $38.00 target price on shares of Dyne Therapeutics in a research report on Monday. Tudor Pickering set a $23.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, December 9th. Finally, Oppenheimer raised Dyne Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.00 to $40.00 in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Trading of Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Dyne Therapeutics in the 1st quarter valued at $246,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Dyne Therapeutics by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,466 shares of the company’s stock valued at $597,000 after purchasing an additional 2,886 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Dyne Therapeutics by 58.2% in the first quarter. Goldman Sachs Group Inc. now owns 994,886 shares of the company’s stock valued at $10,407,000 after purchasing an additional 366,183 shares during the last quarter. Caxton Associates LLP bought a new position in Dyne Therapeutics in the first quarter worth about $157,000. Finally, CWM LLC raised its holdings in Dyne Therapeutics by 168.1% in the second quarter. CWM LLC now owns 3,030 shares of the company’s stock worth $29,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Down 9.6%

The firm has a market capitalization of $2.09 billion, a PE ratio of -4.12 and a beta of 1.34. The company has a quick ratio of 13.47, a current ratio of 13.47 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $17.36 and its 200 day simple moving average is $17.05.

Dyne Therapeutics Company Profile

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.