Wasatch Advisors LP Trims Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Wasatch Advisors LP reduced its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320,626 shares of the company’s stock after selling 3,473 shares during the quarter. Wasatch Advisors LP owned approximately 0.32% of Dyne Therapeutics worth $7,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Dyne Therapeutics in the fourth quarter worth about $22,384,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Dyne Therapeutics in the 4th quarter worth approximately $3,091,000. Barclays PLC increased its holdings in Dyne Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after acquiring an additional 128,246 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Dyne Therapeutics during the 4th quarter worth approximately $2,340,000. Finally, Geode Capital Management LLC lifted its holdings in Dyne Therapeutics by 4.8% during the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 6,237 shares of company stock valued at $77,760 over the last ninety days. 20.77% of the stock is owned by insiders.

Dyne Therapeutics Stock Performance

Shares of DYN opened at $7.83 on Thursday. The stock has a market capitalization of $885.74 million, a PE ratio of -2.20 and a beta of 1.21. The company’s fifty day moving average is $11.37 and its 200 day moving average is $20.88. Dyne Therapeutics, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank started coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. HC Wainwright restated a “buy” rating and issued a $46.00 price objective on shares of Dyne Therapeutics in a research report on Monday, March 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Finally, Chardan Capital reissued a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.46.

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.