Jennison Associates LLC Raises Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Jennison Associates LLC lifted its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,346,952 shares of the company’s stock after purchasing an additional 19,730 shares during the quarter. Jennison Associates LLC owned about 1.34% of Dyne Therapeutics worth $48,383,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Dyne Therapeutics by 904.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after purchasing an additional 669 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Dyne Therapeutics by 776.9% during the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares during the period. Values First Advisors Inc. purchased a new stake in Dyne Therapeutics in the third quarter valued at approximately $62,000. KBC Group NV increased its holdings in Dyne Therapeutics by 53.4% in the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after buying an additional 751 shares during the period. Finally, Amalgamated Bank raised its position in Dyne Therapeutics by 39.9% during the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after buying an additional 796 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DYN. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Guggenheim boosted their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley upped their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $29.79 on Friday. The stock has a market capitalization of $3.03 billion, a PE ratio of -8.37 and a beta of 1.10. The business has a 50 day simple moving average of $32.25 and a 200-day simple moving average of $35.21. Dyne Therapeutics, Inc. has a 12 month low of $10.12 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of Dyne Therapeutics stock in a transaction 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 sale, the director now owns 15,962 shares of the company’s stock, valued at $528,342.20. The trade was a 4.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlo Incerti sold 16,500 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $28.73, for a total transaction of $474,045.00. The disclosure for this sale can be found here. Insiders sold a total of 176,257 shares of company stock worth $6,193,718 in the last 90 days. Insiders own 20.77% of the company’s stock.

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.