Dyne Therapeutics, Inc.
DYN · Pharmaceutical Preparations · 142.8M shares · +489%/yr ↑ dilution · EDGAR filings ↗
Reference price $21.10 · est. market cap ~$3.0B — last insider sale, 2026-06-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — muscle-disease clinical, very heavy burn ($405M), very well-funded.
Strengths
- Liquidity — current ratio 22.3 (96th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Cash burnNegative free cash flow (-405.1M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Chronic dilutionShare count +489%/yr over 1y (dilution, book value/share -82%)
- Insider buyingInsider buying — 7 open-market buy(s) by 1 insider(s) (~$274,840, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $1.1B cash & investments, ~11 quarters of runway
- Insider sellingInsider selling — 86 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$68M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Key metrics
Return on equity
-45.9%
Return on assets
-37.6%
ROIC
-33.0%
Debt / equity
0.2×
Current ratio
22.3×
Free cash flow
-$405M
EBITDA
-$466M
Tangible book value
$972M
Cash & investments
$1.1B
Cash runway
11q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Rhodes Jason P | Sell | 13K | $21.10 |
| 2026-06-25 | Rhodes Jason P | Sell | 6.4K | $21.10 |
| 2026-06-25 | Rhodes Jason P | Sell | 5.0K | $21.10 |
| 2026-06-25 | Lucera Erick | Sell | 2.4K | $20.37 |
| 2026-06-24 | Rhodes Jason P | Sell | 20K | $21.02 |
| 2026-06-24 | Rhodes Jason P | Sell | 51K | $21.02 |
| 2026-06-24 | Rhodes Jason P | Sell | 25K | $21.02 |
| 2026-06-23 | Kersten Dirk | Sell | 72K | $21.04 |
| 2026-06-23 | Kersten Dirk | Sell | 1.7K | $21.47 |
| 2026-06-23 | Rhodes Jason P | Sell | 78K | $21.13 |
| 2026-06-23 | Rhodes Jason P | Sell | 39K | $21.13 |
| 2026-06-23 | Rhodes Jason P | Sell | 31K | $21.13 |
| 2026-06-22 | Kersten Dirk | Sell | 191K | $20.57 |
| 2026-06-18 | Kersten Dirk | Sell | 47K | $20.07 |
| 2026-06-17 | Kersten Dirk | Sell | 37K | $20.14 |
| 2026-06-16 | Friedl-Naderer Johanna | Sell | 145 | $18.33 |
| 2026-06-16 | Cox John | Sell | 2.7K | $18.33 |
| 2026-06-16 | Kerr Douglas | Sell | 887 | $18.33 |
| 2026-06-08 | Posner Brian S | Buy | 2.0K | $16.94 |
| 2026-06-03 | Posner Brian S | Buy | 2.5K | $17.48 |
| 2026-05-26 | Posner Brian S | Buy | 2.0K | $18.21 |
| 2026-05-20 | Posner Brian S | Buy | 2.5K | $17.12 |
| 2026-05-13 | Friedl-Naderer Johanna | Sell | 228 | $18.36 |
| 2026-05-13 | Cox John | Sell | 3.3K | $18.36 |
| 2026-05-13 | Lucera Erick | Sell | 1.4K | $18.36 |
| 2026-05-13 | Kerr Douglas | Sell | 1.6K | $18.36 |
| 2026-05-06 | Rhodes Jason P | Sell | 428 | $18.18 |
| 2026-05-06 | Rhodes Jason P | Sell | 17K | $18.18 |
| 2026-05-06 | Rhodes Jason P | Sell | 22K | $18.18 |
| 2026-05-06 | Rhodes Jason P | Sell | 44K | $18.18 |
| 2026-05-05 | Rhodes Jason P | Sell | 6.1K | $18.03 |
| 2026-05-05 | Rhodes Jason P | Sell | 2.4K | $18.03 |
| 2026-05-05 | Rhodes Jason P | Sell | 3.1K | $18.03 |
| 2026-05-05 | Rhodes Jason P | Sell | 60 | $18.03 |
| 2026-05-04 | Rhodes Jason P | Sell | 6.2K | $18.00 |
| 2026-05-04 | Rhodes Jason P | Sell | 2.5K | $18.00 |
| 2026-05-04 | Rhodes Jason P | Sell | 3.1K | $18.00 |
| 2026-05-04 | Rhodes Jason P | Sell | 61 | $18.00 |
| 2026-04-28 | Rhodes Jason P | Sell | 26 | $19.00 |
| 2026-04-28 | Rhodes Jason P | Sell | 60K | $18.38 |
| 2026-04-28 | Rhodes Jason P | Sell | 119K | $18.38 |
| 2026-04-28 | Rhodes Jason P | Sell | 1.2K | $18.38 |
| 2026-04-28 | Rhodes Jason P | Sell | 47K | $18.38 |
| 2026-04-28 | Rhodes Jason P | Sell | 52 | $19.00 |
| 2026-04-28 | Rhodes Jason P | Sell | 1 | $19.00 |
| 2026-04-28 | Rhodes Jason P | Sell | 21 | $19.00 |
| 2026-04-27 | Rhodes Jason P | Sell | 91K | $18.15 |
| 2026-04-27 | Rhodes Jason P | Sell | 894 | $18.15 |
| 2026-04-27 | Rhodes Jason P | Sell | 36K | $18.15 |
| 2026-04-27 | Rhodes Jason P | Sell | 46K | $18.15 |
| 2026-04-24 | Lubner David Charles | Gift | 54K | — |
| 2026-04-24 | Rhodes Jason P | Sell | 29K | $18.48 |
| 2026-04-24 | Rhodes Jason P | Sell | 710 | $18.48 |
| 2026-04-24 | Rhodes Jason P | Sell | 72K | $18.48 |
| 2026-04-24 | Rhodes Jason P | Sell | 36K | $18.48 |
| 2026-04-23 | Rhodes Jason P | Sell | 15K | $19.19 |
| 2026-04-23 | Rhodes Jason P | Sell | 377 | $19.19 |
| 2026-04-23 | Rhodes Jason P | Sell | 38K | $19.19 |
| 2026-04-23 | Rhodes Jason P | Sell | 19K | $19.19 |
| 2026-04-22 | Kersten Dirk | Sell | 2.7K | $20.00 |
| 2026-04-22 | Rhodes Jason P | Sell | 151K | $19.68 |
| 2026-04-22 | Rhodes Jason P | Sell | 60K | $19.68 |
| 2026-04-22 | Rhodes Jason P | Sell | 1.5K | $19.68 |
| 2026-04-22 | Rhodes Jason P | Sell | 76K | $19.68 |
| 2026-04-21 | Rhodes Jason P | Sell | 605 | $20.05 |
| 2026-04-21 | Kersten Dirk | Sell | 8.3K | $20.01 |
| 2026-04-21 | Rhodes Jason P | Sell | 71K | $19.51 |
| 2026-04-21 | Rhodes Jason P | Sell | 142K | $19.51 |
| 2026-04-21 | Rhodes Jason P | Sell | 1.4K | $19.51 |
| 2026-04-21 | Rhodes Jason P | Sell | 56K | $19.51 |
| 2026-04-21 | Rhodes Jason P | Sell | 769 | $20.05 |
| 2026-04-21 | Rhodes Jason P | Sell | 1.5K | $20.05 |
| 2026-04-21 | Rhodes Jason P | Sell | 15 | $20.05 |
| 2026-04-20 | Rhodes Jason P | Sell | 143K | $20.06 |
| 2026-04-20 | Kersten Dirk | Sell | 125K | $20.07 |
| 2026-04-20 | Rhodes Jason P | Sell | 56K | $20.06 |
| 2026-04-20 | Rhodes Jason P | Sell | 1.4K | $20.06 |
| 2026-04-20 | Rhodes Jason P | Sell | 72K | $20.06 |
| 2026-04-17 | Kersten Dirk | Sell | 212K | $20.29 |
| 2026-04-16 | Kersten Dirk | Sell | 6.7K | $20.06 |
| 2026-04-16 | Kersten Dirk | Sell | 11K | $21.10 |
| 2026-04-15 | Kersten Dirk | Sell | 82K | $20.27 |
| 2026-04-01 | Lucera Erick | Sell | 5.7K | $18.64 |
| 2026-03-30 | Posner Brian S | Buy | 2.0K | $17.08 |
| 2026-03-11 | Kersten Dirk | Sell | 130K | $19.52 |
| 2026-03-11 | Posner Brian S | Buy | 2.0K | $19.35 |
| 2026-03-10 | Kersten Dirk | Sell | 282K | $19.80 |
| 2026-03-10 | Kersten Dirk | Sell | 9.5K | $18.21 |
| 2026-03-10 | Kersten Dirk | Sell | 220K | $19.32 |
| 2026-03-09 | Kersten Dirk | Sell | 178K | $17.72 |
| 2026-03-06 | Posner Brian S | Buy | 3.0K | $15.06 |
| 2026-03-05 | Kerr Douglas | Sell | 904 | $14.90 |
| 2026-03-05 | Cox John | Sell | 2.7K | $14.90 |
| 2026-03-05 | Friedl-Naderer Johanna | Sell | 148 | $14.90 |
| 2026-02-12 | Kerr Douglas | Grant | 85K | — |
| 2026-02-12 | Lucera Erick | Grant | 65K | — |
| 2026-02-12 | Cox John | Grant | 180K | — |
| 2026-02-12 | Friedl-Naderer Johanna | Grant | 60K | — |
| 2025-12-05 | Kerr Douglas | Sell | 880 | $20.72 |
| 2025-12-05 | Friedl-Naderer Johanna | Sell | 144 | $20.72 |
| 2025-12-05 | Cox John | Sell | 2.7K | $20.72 |
| 2025-09-05 | Friedl-Naderer Johanna | Sell | 144 | $13.41 |
| 2025-09-05 | Kerr Douglas | Sell | 873 | $13.41 |
| 2025-09-05 | Cox John | Sell | 2.6K | $13.41 |
| 2025-09-04 | Kerr Douglas | Sell | 3.6K | $13.27 |
| 2025-09-04 | Friedl-Naderer Johanna | Sell | 894 | $13.27 |
| 2025-07-15 | Cox John | Gift | 10K | — |
| 2025-07-15 | Cox John | Gift | 10K | — |
| 2025-07-15 | Cox John | Gift | 10K | — |
| 2025-07-15 | Cox John | Gift | 10K | — |
| 2025-07-14 | Cox John | Buy | 100K | $9.11 |
| 2025-06-05 | Cox John | Sell | 4.1K | $13.35 |
| 2025-06-05 | Kerr Douglas | Sell | 1.3K | $13.35 |
| 2025-06-05 | Friedl-Naderer Johanna | Sell | 146 | $13.35 |
| 2025-03-31 | Lucera Erick | Grant | 66K | — |
| 2025-03-13 | Friedl-Naderer Johanna | Sell | 143 | $12.12 |
| 2025-03-11 | Scalzo Richard William | Sell | 1.3K | $11.38 |
| 2025-03-11 | Beskrovnaya Oxana | Sell | 2.2K | $11.38 |
| 2025-03-05 | Cox John | Sell | 4.1K | $11.83 |
| 2025-03-05 | Beskrovnaya Oxana | Sell | 1.1K | $11.83 |
| 2025-03-05 | Scalzo Richard William | Sell | 917 | $11.83 |
| 2025-03-05 | Kerr Douglas | Sell | 1.3K | $11.83 |
| 2025-02-18 | Beskrovnaya Oxana | Sell | 2.6K | $13.95 |
| 2025-02-18 | Scalzo Richard William | Sell | 2.5K | $13.95 |
| 2025-01-27 | Rhodes Jason P | Grant | 1.1M | $13.50 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Exec/director change | filing ↗ |
| 2026-06-17 | Material agreementDebt obligation | filing ↗ |
| 2026-06-08 | Shareholder vote | filing ↗ |
| 2026-06-03 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-03-02 | ResultsExhibits | filing ↗ |
| 2026-01-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-23 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-22 | 0001818794-26-000005 ↗ |
| 8-K | 2026-06-17 | 2026-06-16 | 0001818794-26-000003 ↗ |
| 8-K | 2026-06-08 | 2026-06-05 | 0001193125-26-261696 ↗ |
| 8-K | 2026-06-03 | 2026-06-03 | 0001193125-26-254597 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001193125-26-215720 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001193125-26-215702 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001193125-26-084207 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001193125-26-084178 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001193125-26-009782 ↗ |
| 8-K | 2025-12-23 | 2025-12-22 | 0001193125-25-329511 ↗ |
| 8-K | 2025-12-10 | 2025-12-09 | 0001193125-25-314249 ↗ |
| 8-K | 2025-12-08 | 2025-12-08 | 0001193125-25-311221 ↗ |