ProShare Advisors LLC Decreases Stock Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

ProShare Advisors LLC reduced its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,170 shares of the company’s stock after selling 1,137 shares during the quarter. ProShare Advisors LLC’s holdings in Dyne Therapeutics were worth $535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of Dyne Therapeutics during the 1st quarter valued at approximately $573,000. Sei Investments Co. purchased a new position in Dyne Therapeutics in the first quarter valued at approximately $693,000. Rafferty Asset Management LLC grew its holdings in Dyne Therapeutics by 17.7% during the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock valued at $2,182,000 after purchasing an additional 24,632 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Dyne Therapeutics in the first quarter worth $810,000. Finally, Commodore Capital LP purchased a new stake in Dyne Therapeutics in the fourth quarter worth $11,970,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DYN. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Guggenheim increased their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Insider Activity at Dyne Therapeutics

In related news, CEO John Cox purchased 32,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $264,320. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Richard William Scalzo sold 1,390 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total transaction of $48,024.50. Following the transaction, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Cox bought 32,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the purchase, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. The disclosure for this purchase can be found here. Insiders have sold 135,304 shares of company stock valued at $4,857,019 over the last three months. 20.77% of the stock is owned by corporate insiders.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $35.92 on Tuesday. Dyne Therapeutics, Inc. has a fifty-two week low of $6.40 and a fifty-two week high of $47.45. The stock has a market cap of $3.14 billion, a P/E ratio of -9.05 and a beta of 1.07. The firm’s fifty day moving average price is $40.11 and its 200-day moving average price is $34.00.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. Sell-side analysts predict that Dyne Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Dyne Therapeutics Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.