Dyne Therapeutics (NASDAQ:DYN) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Dyne Therapeutics (NASDAQ:DYN) from a sell rating to a strong sell rating in a research note published on Saturday morning.

A number of other brokerages have also recently issued reports on DYN. Sanford C. Bernstein upped their price objective on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday. Cantor Fitzgerald started coverage on shares of Dyne Therapeutics in a research note on Thursday, July 23rd. They issued an “overweight” rating for the company. Morgan Stanley cut their price target on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday. Finally, TD Cowen began coverage on Dyne Therapeutics in a research note on Friday, June 26th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.42.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN opened at $25.18 on Friday. The stock’s 50-day moving average is $21.24 and its 200 day moving average is $18.87. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of -7.56 and a beta of 1.06. Dyne Therapeutics has a 1-year low of $9.57 and a 1-year high of $26.26. The company has a current ratio of 12.02, a quick ratio of 19.92 and a debt-to-equity ratio of 0.28.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, sell-side analysts anticipate that Dyne Therapeutics will post -3.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Jason P. Rhodes sold 480,240 shares of Dyne Therapeutics stock in a transaction on Monday, July 6th. The shares were sold at an average price of $22.79, for a total value of $10,944,669.60. Following the transaction, the director directly owned 875,912 shares of the company’s stock, valued at $19,962,034.48. The trade was a 35.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 9,000 shares of company stock valued at $156,800 and have sold 1,665,542 shares valued at $36,321,576. Corporate insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings 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 worth $343,085,000 after buying an additional 14,727,667 shares during the period. Orbis Allan Gray Ltd purchased a new position in shares of Dyne Therapeutics during the fourth quarter valued at approximately $93,926,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Dyne Therapeutics during the second quarter valued at approximately $30,378,000. Perceptive Advisors LLC raised its holdings in shares of Dyne Therapeutics by 543.7% during the fourth quarter. Perceptive Advisors LLC now owns 3,478,944 shares of the company’s stock valued at $68,048,000 after acquiring an additional 2,938,500 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in 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 acquiring an additional 2,565,570 shares during the period. 96.68% of the stock is owned by institutional investors.

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.