Armistice Capital LLC Reduces Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Armistice Capital LLC trimmed its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 970,891 shares of the company’s stock after selling 29,109 shares during the quarter. Armistice Capital LLC’s holdings in Dyne Therapeutics were worth $34,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after buying an additional 669 shares during the period. Amalgamated Bank raised its holdings in 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 during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Dyne Therapeutics by 28.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after purchasing an additional 1,291 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Dyne Therapeutics during the second quarter worth $203,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Dyne Therapeutics in the second quarter valued at $212,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Up 4.4 %

Shares of DYN stock opened at $34.88 on Thursday. Dyne Therapeutics, Inc. has a fifty-two week low of $6.40 and a fifty-two week high of $47.45. The firm’s 50 day moving average price is $40.55 and its two-hundred day moving average price is $33.78. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -8.79 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, equities analysts forecast that Dyne Therapeutics, Inc. will post -2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John Cox bought 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the purchase, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO John Cox bought 32,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the purchase, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dirk Kersten sold 40,831 shares of Dyne Therapeutics stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the sale, the director now directly owns 193,296 shares in the company, valued at approximately $6,827,214.72. The disclosure for this sale can be found here. Insiders have sold a total of 132,947 shares of company stock worth $4,774,383 over the last quarter. 20.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DYN has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Stifel Nicolaus boosted their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research note on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.40.

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.