The Manufacturers Life Insurance Company Sells 20,029 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

The Manufacturers Life Insurance Company lowered its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 15.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 106,215 shares of the company’s stock after selling 20,029 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dyne Therapeutics were worth $3,815,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Dyne Therapeutics by 904.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after purchasing an additional 669 shares in the last quarter. US Bancorp DE increased its holdings in Dyne Therapeutics by 776.9% in the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Dyne Therapeutics during the 3rd quarter worth approximately $62,000. KBC Group NV grew its position in shares of Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after buying an additional 751 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after acquiring an additional 796 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Price Performance

DYN opened at $29.50 on Friday. Dyne Therapeutics, Inc. has a 1 year low of $10.33 and a 1 year high of $47.45. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -8.29 and a beta of 1.09. The firm’s fifty day moving average price is $31.12 and its two-hundred day moving average price is $35.37.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.45 EPS for the current year.

Insiders Place Their Bets

In related news, COO Susanna Gatti High sold 8,976 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the transaction, the chief operating officer now owns 131,636 shares in the company, valued at approximately $4,529,594.76. This represents a 6.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the sale, the director now directly owns 234,127 shares in the company, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 176,257 shares of company stock valued at $6,193,718 in the last 90 days. 20.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Finally, Royal Bank of Canada started coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.82.

About Dyne Therapeutics

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.