Flputnam Investment Management Co. bought a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 52,975 shares of the company’s stock, valued at approximately $1,177,000.
Other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in 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 acquiring an additional 14,727,667 shares during the last quarter. BlackRock Inc. purchased a new position in Dyne Therapeutics during the second quarter valued at approximately $275,500,000. Jupiter Topco LLC bought a new position in Dyne Therapeutics in the 2nd quarter worth $266,634,000. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,455,151 shares during the period. Finally, State Street Corp grew its holdings in Dyne Therapeutics by 27.0% during the 4th quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after buying an additional 1,423,828 shares in the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.
Analyst Ratings Changes
DYN has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Monday, August 17th. Evercore set a $33.00 price objective on Dyne Therapeutics in a report on Friday, May 15th. Morgan Stanley reduced their price target on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Cantor Fitzgerald initiated coverage on shares of Dyne Therapeutics in a report on Thursday, July 23rd. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.42.
Insider Buying and Selling at Dyne Therapeutics
In related news, Director Jason P. Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares in the company, valued at $10,723,650. This trade represents a 83.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erick Lucera sold 2,362 shares of Dyne Therapeutics stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.37, for a total transaction of $48,113.94. Following the transaction, the chief financial officer owned 121,563 shares of the company’s stock, valued at approximately $2,476,238.31. The trade was a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,139,196 shares of company stock worth $99,449,852. Insiders own 9.46% of the company’s stock.
Dyne Therapeutics Stock Performance
Shares of NASDAQ:DYN opened at $25.07 on Monday. The business’s 50 day moving average price is $24.37 and its 200-day moving average price is $20.08. Dyne Therapeutics, Inc. has a 1 year low of $11.92 and a 1 year high of $27.31. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -7.53 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.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.47 earnings per share 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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