Wellington Management Group LLP Reduces Stock Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Wellington Management Group LLP lowered its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 81.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,661 shares of the company’s stock after selling 184,761 shares during the quarter. Wellington Management Group LLP’s holdings in Dyne Therapeutics were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Sphera Funds Management LTD. purchased a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $2,030,000. State Street Corp lifted its stake in Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after buying an additional 440,890 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after acquiring an additional 331,940 shares during the period. RTW Investments LP grew its position in shares of Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after acquiring an additional 431,503 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Dyne Therapeutics in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Stock Down 6.1 %

NASDAQ:DYN opened at $24.56 on Thursday. The firm’s fifty day simple moving average is $29.99 and its 200-day simple moving average is $35.11. The stock has a market cap of $2.50 billion, a PE ratio of -6.90 and a beta of 1.09. Dyne Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $47.45.

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

Insider Buying and Selling

In related news, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the sale, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the transaction, the director now owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 167,341 shares of company stock worth $5,862,564 in the last quarter. Company insiders own 20.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Robert W. Baird initiated coverage on Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. downgraded Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $35.00 in a research note on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

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.