Dyne Therapeutics (NASDAQ:DYN) Shares Down 6.6% After Earnings Miss

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares fell 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. 316,576 shares were traded during trading, a decline of 84% from the average session 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).

Analysts Set New Price Targets

DYN has been the topic of a number of recent research reports. Tudor Pickering set a $23.00 price target on Dyne Therapeutics in a research note on Tuesday, December 9th. Oppenheimer upgraded shares of Dyne Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.00 to $40.00 in a research report on Wednesday, December 10th. Royal Bank Of Canada boosted their target price on Dyne Therapeutics from $23.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Raymond James Financial reissued a “strong-buy” rating and set a $40.00 target price on shares of Dyne Therapeutics in a research report on Monday, December 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $47.00 price target on shares of Dyne Therapeutics in a research report on Monday. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.63.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC increased its stake in shares of Dyne Therapeutics by 0.5% during the third quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock valued at $2,195,000 after purchasing an additional 861 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Dyne Therapeutics by 11.1% during the second quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company’s stock valued at $91,000 after acquiring an additional 955 shares during the last quarter. Creative Planning boosted its position in Dyne Therapeutics by 6.8% in the third quarter. Creative Planning now owns 15,527 shares of the company’s stock worth $196,000 after purchasing an additional 986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Dyne Therapeutics by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,500 shares of the company’s stock valued at $70,000 after purchasing an additional 1,109 shares during the period. Finally, Caxton Associates LLP lifted its stake in shares of Dyne Therapeutics by 10.9% in the 2nd quarter. Caxton Associates LLP now owns 16,599 shares of the company’s stock worth $158,000 after purchasing an additional 1,627 shares during the period. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Stock Performance

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 has a market cap of $2.28 billion, a PE ratio of -4.37 and a beta of 1.34. The business’s fifty day moving average is $17.57 and its 200-day moving average is $17.01.

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.