State Street Corp Boosts Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

State Street Corp boosted its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 13.8% in the 3rd quarter, Holdings Channel reports. The fund owned 3,641,859 shares of the company’s stock after acquiring an additional 440,890 shares during the quarter. State Street Corp’s holdings in Dyne Therapeutics were worth $130,816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DYN. RA Capital Management L.P. grew its holdings in Dyne Therapeutics by 5.5% in the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after buying an additional 331,940 shares in the last quarter. RTW Investments LP grew its holdings in shares of Dyne Therapeutics by 6.8% in the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after purchasing an additional 431,503 shares during the period. Point72 DIFC Ltd acquired a new stake in Dyne Therapeutics during the third quarter worth about $36,000. Janus Henderson Group PLC raised its stake in Dyne Therapeutics by 47.3% during the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after purchasing an additional 2,189,339 shares during the period. Finally, HighVista Strategies LLC purchased a new position in Dyne Therapeutics during the third quarter worth about $2,352,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Stock Up 0.5 %

NASDAQ:DYN opened at $25.73 on Friday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -7.23 and a beta of 1.09. Dyne Therapeutics, Inc. has a 52 week low of $11.51 and a 52 week high of $47.45. The company has a fifty day simple moving average of $30.39 and a two-hundred day simple moving average of $35.23.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, analysts expect that Dyne Therapeutics, Inc. will post -3.45 EPS for the current year.

Insider Buying and Selling

In related news, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the completion of the transaction, the senior vice president now owns 127,078 shares in the company, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the sale, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,046 shares of company stock worth $6,300,265. Company insiders own 20.77% of the company’s stock.

Wall Street Analysts Forecast Growth

DYN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday. Royal Bank of Canada began coverage on shares of Dyne Therapeutics in a research note on Tuesday, November 26th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Robert W. Baird began coverage on shares of Dyne Therapeutics in a research note on Friday. They issued an “outperform” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

Dyne Therapeutics Company 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.