Eventide Asset Management LLC Makes New $13.31 Million Investment in Dyne Therapeutics, Inc. $DYN

Eventide Asset Management LLC purchased a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 680,305 shares of the company’s stock, valued at approximately $13,306,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DYN. Strs Ohio bought a new position in Dyne Therapeutics in the 4th quarter worth approximately $51,000. Steward Partners Investment Advisory LLC raised its stake in Dyne Therapeutics by 102.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock valued at $95,000 after acquiring an additional 2,465 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Dyne Therapeutics by 275.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company’s stock worth $100,000 after acquiring an additional 7,697 shares during the period. Prudential Financial Inc. acquired a new position in Dyne Therapeutics during the 2nd quarter worth $111,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Dyne Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,940 shares of the company’s stock worth $136,000 after acquiring an additional 1,440 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $18.19 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 19.92 and a current ratio of 19.92. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -5.65 and a beta of 1.09. Dyne Therapeutics, Inc. has a 1 year low of $8.06 and a 1 year high of $25.00. The firm’s 50 day moving average price is $18.27 and its two-hundred day moving average price is $18.15.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.04. During the same quarter last year, the business posted ($1.05) earnings per share. On average, research analysts predict that Dyne Therapeutics, Inc. will post -3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DYN. Evercore set a $33.00 price target on Dyne Therapeutics in a research report on Friday, May 15th. HC Wainwright reduced their price target on Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Sanford C. Bernstein boosted their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Chardan Capital reiterated a “buy” rating and set a $38.00 price target on shares of Dyne Therapeutics in a research report on Monday, March 9th. Finally, Morgan Stanley reduced their price target on Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 287,956 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $19.68, for a total value of $5,666,974.08. Following the transaction, the director owned 11,663 shares in the company, valued at approximately $229,527.84. The trade was a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 9,000 shares of company stock valued at $156,800 and have sold 1,559,462 shares valued at $29,814,746. Company insiders own 9.46% of the company’s stock.

Dyne Therapeutics 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.