Palo Alto Investors LP bought a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,647,521 shares of the company’s stock, valued at approximately $36,591,441,000. Dyne Therapeutics accounts for approximately 5.1% of Palo Alto Investors LP’s investment portfolio, making the stock its 7th biggest position. Palo Alto Investors LP owned about 0.88% of Dyne Therapeutics at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its position in shares of Dyne Therapeutics by 523.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after buying an additional 14,727,667 shares during the last quarter. BlackRock Inc. bought a new position in shares of Dyne Therapeutics during the second quarter worth $275,500,000. Jupiter Topco LLC purchased a new position in Dyne Therapeutics during the second quarter valued at $266,634,000. Vanguard Group Inc. grew its stake in Dyne Therapeutics by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock valued at $219,376,000 after acquiring an additional 1,455,151 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Dyne Therapeutics by 27.0% in the fourth quarter. State Street Corp now owns 6,692,745 shares of the company’s stock worth $130,910,000 after purchasing an additional 1,423,828 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on DYN. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Evercore set a $33.00 target price on shares of Dyne Therapeutics in a report on Friday, May 15th. Wall Street Zen downgraded shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Royal Bank Of Canada lifted their price target on Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald began coverage on Dyne Therapeutics in a research note on Thursday, July 23rd. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.42.
Insider Activity
In other news, Director Jason P. Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction on Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the sale, the director directly owned 428,946 shares in the company, valued at approximately $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erick Lucera sold 2,362 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total transaction of $48,113.94. Following the sale, the chief financial officer directly owned 121,563 shares of the company’s stock, valued at $2,476,238.31. This represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,139,196 shares of company stock valued at $99,449,852. 9.46% of the stock is owned by insiders.
Dyne Therapeutics Trading Down 1.0%
DYN stock opened at $26.09 on Friday. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics, Inc. has a twelve month low of $11.92 and a twelve month high of $27.31. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of -7.83 and a beta of 1.07. The firm’s fifty day simple moving average is $24.26 and its two-hundred day simple moving average is $20.02.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last released its earnings results 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, analysts anticipate that Dyne Therapeutics, Inc. will post -3.47 earnings per share for the current year.
Dyne Therapeutics Company 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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