Cibc World Market Inc. acquired a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 75,783 shares of the company’s stock, valued at approximately $1,683,000.
Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings 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. BlackRock Inc. purchased a new stake in shares of Dyne Therapeutics in the second quarter worth approximately $275,500,000. Vanguard Group Inc. lifted its position in shares of Dyne Therapeutics by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock worth $219,376,000 after purchasing an additional 1,455,151 shares in the last quarter. State Street Corp boosted its holdings in shares of Dyne Therapeutics by 27.0% during 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 period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Dyne Therapeutics by 45.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock worth $101,164,000 after purchasing an additional 1,618,000 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
DYN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Morgan Stanley cut their target price on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Cantor Fitzgerald assumed coverage on shares of Dyne Therapeutics in a research note on Thursday, July 23rd. They set an “overweight” rating for the company. TD Cowen assumed coverage on shares of Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.42.
Insider Buying and Selling
In other Dyne Therapeutics news, CFO Erick Lucera sold 2,362 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total value of $48,113.94. Following the completion of the sale, the chief financial officer directly owned 121,563 shares of the company’s stock, valued at $2,476,238.31. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason P. Rhodes sold 2,160,516 shares of the 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 transaction, the director owned 428,946 shares in the company, valued at approximately $10,723,650. This trade represents a 83.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,139,196 shares of company stock valued at $99,449,852 over the last quarter. Corporate insiders own 9.46% of the company’s stock.
Dyne Therapeutics Stock Down 1.0%
Shares of Dyne Therapeutics stock opened at $26.09 on Friday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of -7.83 and a beta of 1.07. The stock has a 50-day simple moving average of $24.26 and a 200-day simple moving average of $20.02. Dyne Therapeutics, Inc. has a 52-week low of $11.92 and a 52-week high of $27.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). On average, equities research analysts expect that Dyne Therapeutics, Inc. will post -3.47 earnings per share for the current fiscal year.
About Dyne Therapeutics
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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