# Dyne Therapeutics, Inc. (DYN)

> Source: Nexqual · https://nexqual.com/DYN · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Dyne Therapeutics, Inc. (DYN), nexqual.com/DYN" · informational, not investment advice.

**Price:** USD 17.04 (+0.35% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 16.98 · day 16.75–17.59 · 52w 14–27.31 · market cap $3.18B · NMS

## Key facts
- Analysts: Buy (mean 2.06 on a 1–5 scale) (17 analysts), mean target USD 34.33 (range 10–50).
- Total return with dividends: 1Y -27.9% vs S&P 500 +14.8%; 5Y +17.4% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05 (date not yet confirmed by the company), EPS estimate USD -0.88, revenue estimate $0K. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: DYN paid no cash dividend in the last five years.
- Short interest: 17.44% of float (as of 2026-10-15), 7.9 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$150M | -$171M | -$242M | -$344M | -$468M | -$537M |
| Net income | -$149M | -$168M | -$236M | -$317M | -$446M | -$519M |
| EPS (diluted) | -$2.93 | -$3.23 | -$3.95 | -$3.37 | -$3.47 | — |
| Free cash flow | -$123M | -$157M | -$189M | -$295M | -$405M | -$480M |
| Cash + short-term investments | $377M | $256M | $123M | $642M | $1.11B | — |
| Total debt | — | — | — | $0K | $149M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 4.5x · FCF yield -15.10% · Earnings yield -16.32% · Net cash $699M · EV $2.48B

## Analysts
Consensus Buy (mean 2.06 on a 1–5 scale), 17 analysts; mean target USD 34.33 (low 10, high 50).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-28 | Oppenheimer | Downgrade | Outperform → Perform | $40 → $15 |
| 2026-09-30 | Chardan Capital | Maintained | Buy | $38 |
| 2026-09-30 | HC Wainwright & Co. | Target lowered | Buy | $50 → $32 |
| 2026-09-29 | Piper Sandler | Reiterated | Overweight | $47 |
| 2026-09-09 | Morgan Stanley | Target lowered | Overweight | $45 → $36 |
| 2026-09-09 | JP Morgan | Downgrade | Neutral → Underweight | $17 → $10 |
| 2026-09-09 | RBC Capital | Target lowered | Outperform | $35 → $30 |
| 2026-09-09 | Baird | Target lowered | Outperform | $30 → $26 |
| 2026-07-31 | Morgan Stanley | Target lowered | Overweight | $47 → $45 |
| 2026-07-30 | RBC Capital | Target raised | Outperform | $30 → $35 |
| 2026-07-23 | Cantor Fitzgerald | Initiated | Overweight |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -27.9% | +17.4% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -28.0% | +3.3% |
| Volatility (annualized) | 66.7% | 78.9% |
| Max drawdown | -46.8% (Aug 2026→Oct 2026) | -84.9% (Aug 2024→Apr 2025) |

## Dividends
DYN paid no cash dividend in the last five years.

## Short interest
25,465,761 shares sold short, 17.44% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 23,381,047 shares (+8.9%). Days to cover: 7.9 (short shares ÷ average daily volume).

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/DYN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name DYN in their own reports (relationship from DYN's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | 10-K 2026-02-12 | "Companies working on chemically synthesized siRNAs include but are not limited to ADARx Pharmaceuticals, Inc., or ADARx, Amgen Inc., Argo Biopharmaceutical Co., Ltd., or Argo, Aro Biotherapeutics, Arr…" |

## Company outlook (8-K filed 2026-07-29)

- "PDUFA target action date set for January 21, 2027 - - Completed enrollment of 71 participants in registrational expansion cohort of Phase 1/2 ACHIEVE trial of z-basivarsen in DM1; topline data planned for Q1 2027 - - Investigational New Drug (IND) Application cleared by FDA for DYNE-302 in FSHD - - Expected cash runway into Q2 2028 - WALTHAM, Mass., July 29, 2026 – Dyne Therapeutics, Inc."
- "The Company expects that its cash, cash equivalents and marketable securities as of June 30, 2026, together with the net proceeds from the July 2026 underwritten public offering, will be sufficient to fund its operations into the second quarter of 2028."
- "The words 3 "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "objective," "ongoing," "plan," "predict," "project," "potential," "should," "will" or "would," or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.88 | $-0.85 | −$0.03 | $0 | 14 |
| Next quarter (ends 2026-12-31) | $-0.91 | $-0.89 | −$0.02 | $0 | 14 |
| Current fiscal year (ends 2026-12-31) | $-3.53 | $-3.51 | −$0.02 | $0 | 15 |
| Next fiscal year (ends 2027-12-31) | $-3.31 | $-3.18 | −$0.13 | $53.4M | 13 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$1.08 | −$0.75 | Miss −44.0% | — |
| — | Quarter ended Mar 31, 2026 | −$0.73 | −$0.78 | Beat +6.4% | — |
| — | Quarter ended Dec 31, 2025 | −$0.73 | −$0.76 | Beat +3.9% | — |
| — | Quarter ended Sep 30, 2025 | −$0.76 | −$0.85 | Beat +10.6% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-29 | 8-K | Regulation FD disclosure; Other material event — “On September 29, 2026, the Company issued a press release and presentation announcing additional one-year clinical data from the ACHIEVE trial evaluating z-basivarsen in individuals with DM1. The new data come from a pooled dose group of participants (N=25-26) from the 3.4 mg/kg every four weeks, 5.4 mg/kg every 8 weeks and 6.8 mg/kg every 8 weeks cohorts of the MAD portion of the ACHIEVE trial (the "pooled dose group"), including participants originally assigned to the placebo group (re-baselined to the visit…” | https://www.sec.gov/Archives/edgar/data/1818794/000181879426000009/0001818794-26-000009-index.htm |
| 2026-08-13 | Schedule 13G/A | Atlas Venture Fund XI, L.P., Atlas Venture Associates XI, L.P.: 2.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1818794/000170826926000007/0001708269-26-000007-index.htm |
| 2026-08-13 | Schedule 13G/A | JANUS HENDERSON GROUP Ltd.: 7.3% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1818794/000127417326000206/0001274173-26-000206-index.htm |
| 2026-08-06 | Schedule 13G/A | FMR LLC, Abigail P. Johnson: 6.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1818794/000031506626001991/0000315066-26-001991-index.htm |
| 2026-07-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1818794/000119312526323940/0001193125-26-323940-index.htm |
| 2026-07-29 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1818794/000119312526323639/0001193125-26-323639-index.htm |
| 2026-07-28 | Schedule 13G/A | BlackRock, Inc.: 7.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1818794/000201238326002476/0002012383-26-002476-index.htm |
| 2026-07-22 | 8-K | Entered a material agreement; Other material event — “On July 21, 2026, Dyne Therapeutics, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Morgan Stanley & Co. LLC and Jefferies LLC, as representatives of the several underwriters named therein (the "Underwriters"), relating to an underwritten public offering (the "Offering") of 18,300,000 shares (the "Underwritten Shares") of the Company's common stock, par value $0.0001 per share (the "Common Stock"). All of the Underwritten Shares are being sold by the Company. The…” | https://www.sec.gov/Archives/edgar/data/1818794/000119312526312571/0001193125-26-312571-index.htm |
| 2026-07-20 | 8-K | Other material event — “On July 20, 2026, Dyne Therapeutics, Inc. (the "Company") announced that the U.S. Food and Drug Administration ("FDA") has accepted for review its biologics license application ("BLA") for zeleciment rostudirsen (z-rostudirsen, also known as DYNE-251) for the treatment of individuals with Duchenne muscular dystrophy ("DMD") amenable to exon 51 skipping. The FDA has granted the BLA Priority Review and assigned a Prescription Drug User Fee Act target action date of January 21, 2027. The Company continues to expect a…” | https://www.sec.gov/Archives/edgar/data/1818794/000119312526308343/0001193125-26-308343-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.