Renaissance Technologies LLC lifted its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN – Free Report) by 13.4% during the first quarter, Holdings Channel reports. The firm owned 533,600 shares of the company’s stock after acquiring an additional 62,955 shares during the quarter. Renaissance Technologies LLC’s holdings in Dyne Therapeutics were worth $9,674,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after purchasing an additional 14,727,667 shares during the period. Orbis Allan Gray Ltd purchased a new position in Dyne Therapeutics during the 4th quarter worth $93,926,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Dyne Therapeutics in the 2nd quarter worth $30,378,000. Perceptive Advisors LLC increased its stake in shares of Dyne Therapeutics by 543.7% during the fourth quarter. Perceptive Advisors LLC now owns 3,478,944 shares of the company’s stock worth $68,048,000 after acquiring an additional 2,938,500 shares during the period. Finally, Marshall Wace LLP raised its holdings in Dyne Therapeutics by 572.9% during the third quarter. Marshall Wace LLP now owns 3,013,377 shares of the company’s stock worth $38,119,000 after purchasing an additional 2,565,570 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
DYN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Evercore set a $33.00 price objective on Dyne Therapeutics in a research report on Friday, May 15th. Royal Bank Of Canada raised their target price on Dyne Therapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald initiated coverage on shares of Dyne Therapeutics in a research report on Thursday, July 23rd. They set an “overweight” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.42.
Insider Buying and Selling at Dyne Therapeutics
In related news, CFO Erick Lucera sold 2,362 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $20.37, for a total value of $48,113.94. Following the sale, the chief financial officer directly owned 121,563 shares in the company, valued at $2,476,238.31. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason P. Rhodes sold 297,211 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $23.26, for a total transaction of $6,913,127.86. Following the completion of the sale, the director directly owned 2,962 shares in the company, valued at approximately $68,896.12. The trade was a 99.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 9,000 shares of company stock valued at $156,800 and have sold 1,653,638 shares valued at $36,107,304. 9.46% of the stock is owned by corporate insiders.
Dyne Therapeutics Stock Performance
DYN opened at $25.18 on Monday. The stock has a market cap of $4.70 billion, a P/E ratio of -7.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. The stock’s 50 day simple moving average is $21.24 and its 200 day simple moving average is $18.88. Dyne Therapeutics, Inc. has a 1-year low of $9.57 and a 1-year high of $26.26.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.28 EPS for the current fiscal year.
Dyne Therapeutics Profile
Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.
Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.
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