Jason Rhodes Sells 297,211 Shares of Dyne Therapeutics (NASDAQ:DYN) Stock

Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Jason Rhodes sold 297,211 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $23.26, for a total value of $6,913,127.86. Following the completion of the sale, the director owned 2,962 shares of the company’s stock, valued at $68,896.12. This trade represents a 99.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN remained flat at $23.83 during mid-day trading on Wednesday. The stock had a trading volume of 2,528,261 shares, compared to its average volume of 2,034,586. Dyne Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $25.00. 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 stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -7.40 and a beta of 1.06. The firm’s fifty day moving average is $18.89 and its two-hundred day moving average is $18.24.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.04. During the same period last year, the business earned ($1.05) earnings per share. Equities research analysts predict that Dyne Therapeutics, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday. Evercore set a $33.00 price objective on shares of Dyne Therapeutics in a report on Friday, May 15th. TD Cowen started coverage on shares of Dyne Therapeutics in a research report on Friday, June 26th. They issued a “buy” rating on the stock. Sanford C. Bernstein upped their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.17.

Institutional Investors Weigh In On Dyne Therapeutics

Several institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its position in Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after acquiring an additional 14,727,667 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at approximately $93,926,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Dyne Therapeutics in the second quarter valued at approximately $30,378,000. Perceptive Advisors LLC raised its holdings in shares of Dyne Therapeutics by 543.7% in the fourth quarter. Perceptive Advisors LLC now owns 3,478,944 shares of the company’s stock valued at $68,048,000 after purchasing an additional 2,938,500 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Dyne Therapeutics by 572.9% in the third quarter. Marshall Wace LLP now owns 3,013,377 shares of the company’s stock worth $38,119,000 after purchasing an additional 2,565,570 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.

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.