Geode Capital Management LLC Boosts Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Geode Capital Management LLC increased its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 4.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,859,413 shares of the company’s stock after buying an additional 84,760 shares during the period. Geode Capital Management LLC’s holdings in Dyne Therapeutics were worth $66,802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC lifted its holdings in Dyne Therapeutics by 69.7% during the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock valued at $324,239,000 after purchasing an additional 3,707,734 shares in the last quarter. RTW Investments LP raised its position in shares of Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after purchasing an additional 431,503 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Dyne Therapeutics by 47.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock valued at $244,755,000 after buying an additional 2,189,339 shares in the last quarter. RA Capital Management L.P. boosted 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 worth $229,211,000 after buying an additional 331,940 shares during the last quarter. Finally, State Street Corp increased its stake in Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after buying an additional 440,890 shares in the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $35.00 in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.42.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $23.99 on Friday. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -6.74 and a beta of 1.09. The firm has a 50 day simple moving average of $29.63 and a 200-day simple moving average of $34.99. Dyne Therapeutics, Inc. has a 1-year low of $11.93 and a 1-year high of $47.45.

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

Insider Buying and Selling

In related news, Director Jason P. Rhodes sold 782 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total transaction of $25,884.20. Following the completion of the transaction, the director now owns 15,962 shares of the company’s stock, valued at approximately $528,342.20. This trade represents a 4.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction that occurred 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 sale, the senior vice president now owns 127,078 shares of the company’s stock, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,930 shares of company stock valued at $2,968,033. 20.77% of the stock is currently owned by insiders.

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.