Stifel Reiterates Reiterates Dyne Therapeutics (DYN) at Buy, DMD Trial Hold Remains Biggest Concern
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Stifel analyst Paul Matteis reiterated a Buy rating and $29.00 price target on Dyne Therapeutics (NASDAQ: DYN), following the company's Q4 report.
The analyst quotes: "We remain Buy rated on Dyne following the company's 4Q21 release. The major focus for the stock remains the DMD clinical hold. The company continues to expect to submit a response to the FDA in 2Q, and they still expect to initiate dosing in the ph1/2 by mid-year. Dyne also updated guidance on DM1 from IND submission in 1Q to "regulatory filings in multiple countries," in 2Q, though they did reiterate plans to also initiate dosing in mid-2022. Management emphasized to us that their plan is to allow FDA to clear the DMD hold prior to putting another package in front of the same reviewers. Ultimately, while there's still some opacity here, we think the fact the timelines/dosing expectations remain on track is a good sign. Meanwhile, DYN reported ~$377MM in cash at YE21 which they anticipate will fund operations into 2H24."
Shares of Dyne Therapeutics closed at $9.00 yesterday.
By Vlad Schepkov | [email protected]
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