FY2024 EPS Forecast for Dyne Therapeutics Lowered by Analyst

Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) - Stock analysts at Chardan Capital dropped their FY2024 earnings per share estimates for Dyne Therapeutics in a research note issued on Wednesday, November 13th. Chardan Capital analyst K. Nakae now expects that the company will post earnings of ($3.14) per share for the year, down from their prior estimate of ($2.75). Chardan Capital currently has a "Buy" rating and a $50.00 target price on the stock. The consensus estimate for Dyne Therapeutics' current full-year earnings is ($3.39) per share. Chardan Capital also issued estimates for Dyne Therapeutics' FY2025 earnings at ($2.73) EPS.

Other equities research analysts have also issued reports about the company. Oppenheimer reissued an "outperform" rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Guggenheim raised their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Stifel Nicolaus increased their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Piper Sandler reissued an "overweight" rating and set a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Dyne Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

Dyne Therapeutics Trading Up 3.3 %

DYN stock traded up $0.95 during mid-day trading on Monday, hitting $29.34. 1,268,326 shares of the company were exchanged, compared to its average volume of 1,493,931. The firm has a fifty day simple moving average of $32.42 and a 200 day simple moving average of $35.26. The company has a market capitalization of $2.99 billion, a PE ratio of -8.24 and a beta of 1.10. Dyne Therapeutics has a twelve month low of $10.03 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.25).

Insiders Place Their Bets

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,390 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares in the company, valued at approximately $3,405,524.40. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jason P. Rhodes sold 782 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total value of $25,884.20. Following the completion of the transaction, the director now directly owns 15,962 shares in the company, valued at $528,342.20. This represents a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,757 shares of company stock worth $5,719,673 over the last ninety days. Company insiders own 20.77% of the company's stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new position in Dyne Therapeutics in the 1st quarter worth about $140,666,000. FMR LLC increased its position in shares of Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company's stock worth $324,239,000 after acquiring an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Dyne Therapeutics by 23,512.0% during the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company's stock valued at $75,915,000 after acquiring an additional 2,663,910 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Dyne Therapeutics by 8,284.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company's stock valued at $32,141,000 after acquiring an additional 1,118,590 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company's stock worth $97,669,000 after buying an additional 1,110,629 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

About Dyne Therapeutics

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.