FY2024 EPS Forecast for Dyne Therapeutics Reduced by Analyst

Dyne Therapeutics, Inc. (NASDAQ:DYN) – Research analysts at Chardan Capital dropped their FY2024 earnings per share (EPS) estimates for Dyne Therapeutics in a research report issued on Wednesday, November 13th. Chardan Capital analyst K. Nakae now expects that the company will post earnings per share of ($3.14) for the year, down from their prior forecast of ($2.75). Chardan Capital has a “Buy” rating and a $50.00 price objective 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.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25).

A number of other brokerages have also issued reports on DYN. Morgan Stanley boosted their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a report on Monday, September 23rd. 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 lifted their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Dyne Therapeutics Price Performance

Shares of DYN stock opened at $29.68 on Monday. The company has a market capitalization of $3.02 billion, a P/E ratio of -8.34 and a beta of 1.10. The company’s 50-day simple moving average is $32.36 and its two-hundred day simple moving average is $35.29. Dyne Therapeutics has a one year low of $10.03 and a one year high of $47.45.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. acquired a new stake in Dyne Therapeutics in the 1st quarter worth approximately $140,666,000. FMR LLC lifted its stake in shares of Dyne Therapeutics by 69.7% during the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after buying an additional 3,707,734 shares during the period. Janus Henderson Group PLC grew 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 buying an additional 2,663,910 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 during the period. Finally, Vanguard Group Inc. raised its stake in Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after acquiring an additional 1,110,629 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

Insider Buying and Selling at Dyne Therapeutics

In other news, Director Dirk Kersten sold 79,411 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the sale, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Cox acquired 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. This represents a -133.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 176,257 shares of company stock worth $6,193,718 over the last quarter. Insiders own 20.77% of the company’s stock.

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.