Elevation Point Wealth Partners LLC Makes New $868,000 Investment in Dianthus Therapeutics, Inc. $DNTH

Elevation Point Wealth Partners LLC purchased a new position in shares of Dianthus Therapeutics, Inc. (NASDAQ:DNTH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,902 shares of the company’s stock, valued at approximately $868,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Dianthus Therapeutics in the second quarter worth about $401,990,000. Wellington Management Group LLP lifted its position in shares of Dianthus Therapeutics by 3,366.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,577,662 shares of the company’s stock worth $101,431,000 after purchasing an additional 2,503,311 shares during the period. Vestal Point Capital LP boosted its stake in shares of Dianthus Therapeutics by 88.2% during the second quarter. Vestal Point Capital LP now owns 3,200,000 shares of the company’s stock valued at $59,616,000 after purchasing an additional 1,499,931 shares in the last quarter. State Street Corp boosted its stake in shares of Dianthus Therapeutics by 124.7% during the fourth quarter. State Street Corp now owns 1,507,619 shares of the company’s stock valued at $62,129,000 after purchasing an additional 836,571 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new position in Dianthus Therapeutics during the third quarter valued at approximately $29,434,000. Hedge funds and other institutional investors own 47.53% of the company’s stock.

Wall Street Analyst Weigh In

DNTH has been the topic of several analyst reports. Wedbush lifted their target price on Dianthus Therapeutics from $105.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Dianthus Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Raymond James Financial restated a “strong-buy” rating and issued a $131.00 target price on shares of Dianthus Therapeutics in a research note on Wednesday, August 5th. Guggenheim reiterated a “buy” rating on shares of Dianthus Therapeutics in a research note on Wednesday, June 10th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Dianthus Therapeutics in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Dianthus Therapeutics has an average rating of “Moderate Buy” and an average price target of $124.27.

Dianthus Therapeutics Stock Down 0.9%

Shares of DNTH stock opened at $110.07 on Tuesday. Dianthus Therapeutics, Inc. has a 52-week low of $22.81 and a 52-week high of $117.88. The stock has a market cap of $6.02 billion, a PE ratio of -26.52 and a beta of 1.22. The business has a 50-day simple moving average of $101.30 and a 200-day simple moving average of $85.62.

Dianthus Therapeutics (NASDAQ:DNTH) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.05). The company had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $0.30 million. Dianthus Therapeutics had a negative net margin of 10,096.95% and a negative return on equity of 22.53%. Sell-side analysts anticipate that Dianthus Therapeutics, Inc. will post -3.83 earnings per share for the current fiscal year.

Insider Transactions at Dianthus Therapeutics

In related news, EVP Ryan Savitz sold 31,249 shares of Dianthus Therapeutics stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $101.03, for a total value of $3,157,086.47. Following the completion of the transaction, the executive vice president owned 31,249 shares in the company, valued at $3,157,086.47. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Simrat Randhawa sold 26,530 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $90.62, for a total value of $2,404,148.60. Following the completion of the sale, the executive vice president owned 4,000 shares of the company’s stock, valued at $362,480. This trade represents a 86.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 287,084 shares of company stock worth $29,615,923. Insiders own 3.02% of the company’s stock.

Dianthus Therapeutics Profile

Dianthus Therapeutics, Inc, a clinical-stage biotechnology company, develops complement therapeutics for patients with severe autoimmune and inflammatory diseases. It is developing DNTH103, a monoclonal antibody, which is in Phase 2 clinical trial, for the treatment of generalized myasthenia gravis, multifocal motor neuropathy, and chronic inflammatory demyelinating polyneuropathy. Dianthus Therapeutics, Inc was founded in 2019 and is headquartered in New York, New York.