Dyne therapeutics SVP Richard Scalzo sells $40,914 in inventory

Richard Scalzo, Senior Vice President and Head of Finance & Admin at Dyne Therapeutics, Inc. (NASDAQ:DYN), just lately bought shares of the corporate’s widespread inventory. Based on a latest SEC submitting, Scalzo bought a complete of 1,455 shares, totaling roughly $40,914. The shares had been bought at a weighted common worth of $28.12, with particular person transaction costs starting from $27.76 to $28.71.

This transaction was performed to fulfill tax withholding obligations associated to the vesting of restricted inventory models (RSUs) granted to Scalzo in December 2021 and December 2022. The sale was a part of an computerized course of outlined in a restricted inventory unit settlement and didn’t symbolize a discretionary commerce by Scalzo.

Following this transaction, Scalzo holds 127,078 shares of Dyne Therapeutics, which incorporates 119,688 unvested RSUs.

In different latest information, Dyne Therapeutics has seen vital developments in its scientific trials and monetary endeavors. The biotech firm’s earnings per share of ($0.70) surpassed each Oppenheimer and consensus estimates, resulting in an outlook adjustment from Piper Sandler, H.C. Wainwright, and Oppenheimer. Dyne Therapeutics additionally elevated its inventory providing from $200 million to $300 million, having already raised roughly $101.2 million from the issuance and sale of its widespread inventory.

The corporate’s ACHIEVE trial for DYNE-101, treating myotonic dystrophy kind 1 (DM1), and the DELIVER trial for DYNE-251, geared toward treating Duchenne muscular dystrophy (DMD), have each proven promising outcomes. Piper Sandler maintained its obese score on Dyne Therapeutics, with a gradual worth goal of $53.00, primarily based on these constructive outcomes.

RBC Capital Markets initiated protection on Dyne Therapeutics with an Outperform score, pointing to the potential breakthrough in genetic drugs being pioneered by the corporate. In the meantime, JPMorgan downgraded Dyne Therapeutics from Chubby to Impartial, decreasing its worth goal on the biotech firm’s inventory to $35.00, following a interval of underperformance.

Dyne Therapeutics additionally obtained a reaffirmed Outperform score and a $55.00 worth goal from Oppenheimer, bolstered by latest scientific information from Part 1/2 DYNE-251 research for Duchenne muscular dystrophy. The corporate additionally introduced strategic management adjustments to bolster its commercialization and operational capabilities, making ready for potential expedited approval of its DM1 and DMD scientific applications.

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