Dyne Therapeutics (DYN) AI Stock Analysis

• Market Cap: $2.95B
• Dividend Yield: N/A
• Average Volume (3M): 2.77M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.93
• Revenue Growth: N/A
• EPS Growth: -2.75%
• Country: US
• Employees: 192
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.76
• Shares Outstanding: 161,805,160
• 10 Day Avg. Volume: 1,886,929
• 30 Day Avg. Volume: 2,769,578
• PEG Ratio: 0.48
• Price to Book (P/B): 3.52
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.53
• Enterprise Value/Market Cap: 0.38
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -2.59
• 1Y Price Target: $38.40
• Price Target Upside: 110.30% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $18.50 ▲(1.31% Upside)

The score is held down primarily by weak financial performance (pre-revenue, widening losses, and heavy cash burn). Technicals also point to muted near-term momentum (negative MACD; below 20/50-day averages). These are partially offset by positive corporate events, including encouraging clinical data and actions that extend funding runway, which reduce near-term financing risk.

Positive Factors

Registrational Clinical Success

Meeting the registrational cohort primary endpoint and observing functional benefit provides durable clinical validation of z-rostudirsen and the FORCE delivery approach. This materially strengthens the pathway to Accelerated Approval and a potential 2027 launch, underpinning future revenue prospects and partner interest.

Cash Runway Into 2028

A reported cash position supporting operations into Q1 2028 substantially lowers near-term financing risk and enables continued registrational activities, regulatory filings, and commercial preparation. This runway supports execution of multiple data readouts and reduces immediate dilution pressure while clinical milestones advance.

Proprietary Delivery Platform

Dyne's FORCE antibody-based delivery technology is a structural competitive asset: it can enable differentiated targeting of muscle and other tissues across multiple oligonucleotide programs. If clinical validation persists, the platform could create durable program leverage, partnership value, and barriers to entry in rare neuromuscular indications.

Negative Factors

Pre-revenue and Widening Losses

Being pre-revenue with rapidly widening losses highlights a fundamental profitability gap that won't self-correct without product approvals or sustained partner cash flows. Continued negative earnings erode equity and limit strategic optionality, making long-term viability contingent on successful commercialization or recurring external funding.

High and Growing Cash Burn

Substantial negative operating and free cash flow are structural constraints: continued heavy burn accelerates depletion of resources, forces near-term allocation trade-offs, and elevates the probability of future financing or program prioritization that could delay broader pipeline progression.

Dependence on External Financing

Raising equity and amending debt show the company must regularly access capital markets to fund operations. For a pre-revenue biotech with heavy burn, this dependence creates persistent dilution and execution risk: future funding needs could arise if approval or launch timelines shift or commercialization costs exceed forecasts.

Dyne Therapeutics Business Overview & Revenue Model

Company Description

Dyne Therapeutics, Inc., a muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It develops various programs for 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. The company was incorporated in 2017 and is headquartered in Waltham, Massachusetts..

How the Company Makes Money

Dyne Therapeutics generates revenue primarily through strategic collaborations, partnerships, and licensing agreements with other biotechnology and pharmaceutical companies. These partnerships often involve upfront payments, milestone payments for achieving specific clinical or regulatory goals, and royalties on sales of any successfully commercialized products. Additionally, Dyne may receive funding through research grants and government contracts aimed at advancing its therapeutic programs. As the company progresses towards commercialization, potential revenue streams could also include direct sales of approved therapies or sublicensing opportunities with other entities.

Dyne Therapeutics Financial Statement Overview

Summary

Dyne Therapeutics exhibits characteristics typical of an early-stage biotech firm: significant cash reserves and low leverage support its R&D focus, despite zero revenue and increasing net losses. The strong balance sheet mitigates the risks associated with negative cash flows, contingent on future breakthroughs and commercialization.

Income Statement

Dyne Therapeutics has consistently reported zero revenue over the years, reflecting its early-stage position in the biotechnology sector focused on R&D. The company incurs substantial net losses, which have been increasing over time, indicating high operational expenses without offsetting revenue streams. This results in negative profit margins across all metrics, which is typical for a biotech firm in the pre-commercial phase.

Balance Sheet

The balance sheet is relatively strong with a significant amount of cash and short-term investments, which is crucial for sustaining R&D activities. The company maintains low debt levels relative to its equity, reflected in a healthy debt-to-equity ratio. A robust equity ratio indicates a strong capital structure, providing financial stability and reducing immediate liquidity risks.

Cash Flow

Cash flows are deeply negative, driven by heavy R&D investments, a common scenario for pre-revenue biotech companies. However, the substantial cash on hand and positive financing cash flow from equity funding highlight the company's ability to raise capital, enabling it to continue its development projects despite negative free cash flow growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-2.24M	-2.46M	0.00	0.00	-700.00K
EBITDA	-433.40M	-315.18M	-233.48M	-169.28M	-148.94M	-58.34M
Net Income	-423.80M	-317.42M	-235.94M	-168.10M	-149.29M	-58.74M
Balance Sheet
Total Assets	867.06M	691.23M	165.08M	306.32M	425.66M	353.33M
Cash, Cash Equivalents and Short-Term Investments	791.89M	642.27M	123.10M	256.01M	376.57M	345.31M
Total Debt	21.32M	23.99M	27.41M	30.48M	32.64M	0.00
Total Liabilities	175.28M	61.40M	73.79M	53.96M	57.47M	10.97M
Stockholders Equity	691.78M	629.84M	91.29M	252.36M	368.20M	342.37M
Cash Flow
Free Cash Flow	-397.01M	-294.75M	-188.89M	-156.71M	-123.18M	-47.67M
Operating Cash Flow	-375.71M	-292.37M	-188.16M	-153.65M	-119.56M	-46.51M
Investing Cash Flow	-45.74M	-204.08M	83.31M	87.20M	-137.89M	-45.66M
Financing Cash Flow	462.98M	809.89M	54.32M	37.39M	157.82M	380.69M

Dyne Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.26
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DYN, the sentiment is Neutral. The current price of 18.26 is below the 20-day moving average (MA) of 19.36, below the 50-day MA of 20.19, and above the 200-day MA of 13.87, indicating a neutral trend. The MACD of -0.33 indicates Positive momentum. The RSI at 43.67 is Neutral, neither overbought nor oversold. The STOCH value of 32.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DYN.

Dyne Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARQT	60 Neutral	$3.66B	-84.29	-28.17%	―	129.21%	80.35%
COGT	56 Neutral	$5.41B	-15.01	-95.40%	―	―	4.32%
BEAM	52 Neutral	$2.84B	-6.31	-47.19%	―	-84.07%	-157.71%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SRPT	51 Neutral	$2.43B	-8.00	-21.37%	―	47.15%	-311.26%
DYN	50 Neutral	$2.95B	-4.99	-60.66%	―	―	-2.75%
IMCR	47 Neutral	$1.67B	-56.57	-7.52%	―	27.51%	38.72%

Dyne Therapeutics Corporate Events

Dyne Therapeutics Highlights Pipeline and Cash at JPM Conference

On January 12, 2026, Dyne Therapeutics released an investor presentation at the J.P. Morgan Healthcare Conference outlining its current operations, late-stage clinical pipeline and plans to advance its FORCE platform-based neuromuscular therapies toward commercialization. The company highlighted positive topline data from a registrational cohort of its Duchenne muscular dystrophy candidate zeleciment rostudirsen, ongoing registrational work in myotonic dystrophy type 1, and a strong cash position of roughly $1.1 billion as of December 31, 2025, supporting operations into the first quarter of 2028 and enabling a steady schedule of data readouts and regulatory submissions ahead of a targeted first commercial launch in early 2027; together with emerging clinical validation of its targeted delivery technology, these developments position Dyne as a potential best-in-class player in rare neuromuscular disease and signal material implications for future revenue generation and competitive standing in the sector.

The most recent analyst rating on (DYN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Dyne Therapeutics stock, see the DYN Stock Forecast page.

Dyne Therapeutics Appoints Vikram Karnani to Board

On December 22, 2025, Dyne Therapeutics, Inc.’s board of directors elected Vikram Karnani as an independent Class II director, with a term running until the company’s 2028 annual meeting of stockholders, signaling continued attention to board independence and governance. Karnani will receive standard non-employee director compensation, including an option to purchase 59,665 shares at $20.78 per share vesting over three years, annual cash and equity compensation, and reimbursement of board-related expenses, with no related-party relationships or transactions disclosed and with his role governed by the company’s standard indemnification agreement.

The most recent analyst rating on (DYN) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Dyne Therapeutics stock, see the DYN Stock Forecast page.

Dyne Therapeutics Announces Upsized Public Offering

On December 9, 2025, Dyne Therapeutics announced the pricing of an upsized underwritten public offering of 18,980,478 shares of its common stock at $18.44 per share, expected to raise $350 million before expenses. The offering, managed by Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities, is anticipated to close around December 11, 2025, with an option for underwriters to purchase additional shares. The proceeds, combined with existing resources, are expected to fund Dyne’s operations into the first quarter of 2028, enhancing its financial runway and supporting its strategic initiatives in the neuromuscular disease sector.

The most recent analyst rating on (DYN) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Dyne Therapeutics stock, see the DYN Stock Forecast page.

Dyne Therapeutics Amends Loan Agreement for $50 Million

On December 8, 2025, Dyne Therapeutics, Inc. amended its Loan and Security Agreement with Hercules Capital, Inc. and other lenders, allowing the company to borrow a second term loan tranche of $50 million. This amendment provides Dyne Therapeutics with additional financial flexibility, enabling access to further tranches totaling up to $125 million, contingent on achieving certain milestones, and extends the interest-only payment period under specific conditions.

The most recent analyst rating on (DYN) stock is a Buy with a $44.00 price target. To see the full list of analyst forecasts on Dyne Therapeutics stock, see the DYN Stock Forecast page.

Dyne Therapeutics Reports Positive Phase 1/2 Trial Results

On December 8, 2025, Dyne Therapeutics announced positive topline results from its Phase 1/2 DELIVER trial for zeleciment rostudirsen (z-rostudirsen) in individuals with Duchenne muscular dystrophy (DMD) amenable to exon 51 skipping. The trial’s Registrational Expansion Cohort (REC) met its primary endpoint, showing a statistically significant increase in muscle content-adjusted dystrophin expression. Additionally, long-term data from the ongoing open-label and long-term extension portions of the trial demonstrated sustained functional improvement and a favorable safety profile. These results position Dyne Therapeutics to submit for U.S. Accelerated Approval in the second quarter of 2026, with a potential U.S. launch in the first quarter of 2027, assuming FDA approval.

The most recent analyst rating on (DYN) stock is a Buy with a $48.00 price target. To see the full list of analyst forecasts on Dyne Therapeutics stock, see the DYN Stock Forecast page.