The Manufacturers Life Insurance Company acquired a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 78,622 shares of the company’s stock, valued at approximately $1,746,000.
Several other institutional investors also recently modified their holdings of DYN. Hilton Head Capital Partners LLC purchased a new stake in Dyne Therapeutics in the first quarter valued at approximately $26,000. Strs Ohio purchased a new position in Dyne Therapeutics in the 4th quarter worth approximately $51,000. Allworth Financial LP purchased a new position in Dyne Therapeutics in the 2nd quarter worth approximately $62,000. Aster Capital Management DIFC Ltd bought a new position in shares of Dyne Therapeutics in the 4th quarter worth $84,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Dyne Therapeutics by 102.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock worth $95,000 after buying an additional 2,465 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors.
Dyne Therapeutics Trading Down 0.8%
Shares of DYN opened at $24.95 on Friday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -7.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. Dyne Therapeutics, Inc. has a fifty-two week low of $11.92 and a fifty-two week high of $27.31. The firm has a 50 day moving average price of $24.74 and a 200-day moving average price of $20.33.
Insider Buying and Selling at Dyne Therapeutics
In other news, Director Jason P. Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director owned 428,946 shares in the company, valued at approximately $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 completion of the sale, the chief financial officer directly owned 121,563 shares of the company’s stock, valued at approximately $2,476,238.31. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,139,196 shares of company stock valued at $99,449,852 over the last three months. 9.46% of the stock is currently owned by insiders.
Analyst Ratings Changes
DYN has been the topic of several research reports. Sanford C. Bernstein raised their price objective on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their target price on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Morgan Stanley reduced their target price on Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday, August 17th. Finally, TD Cowen began coverage on Dyne Therapeutics in a report on Friday, June 26th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.42.
View Our Latest Stock Analysis on DYN
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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