Balyasny Asset Management L.P. Has $3.99 Million Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Balyasny Asset Management L.P. trimmed its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,306 shares of the company's stock after selling 75,804 shares during the period. Balyasny Asset Management L.P. owned about 0.17% of Dyne Therapeutics worth $3,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Dyne Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,887,329 shares of the company's stock valued at $44,476,000 after buying an additional 27,916 shares during the last quarter. Norges Bank acquired a new stake in Dyne Therapeutics in the 4th quarter valued at $22,384,000. ArrowMark Colorado Holdings LLC increased its stake in Dyne Therapeutics by 3.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 932,231 shares of the company's stock valued at $21,963,000 after buying an additional 32,041 shares during the last quarter. Northern Trust Corp increased its stake in Dyne Therapeutics by 7.7% in the 4th quarter. Northern Trust Corp now owns 777,013 shares of the company's stock valued at $18,306,000 after buying an additional 55,511 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Dyne Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,452 shares of the company's stock valued at $15,725,000 after buying an additional 18,800 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Performance

Shares of DYN stock traded down $0.40 during midday trading on Wednesday, hitting $11.70. 1,983,451 shares of the company were exchanged, compared to its average volume of 1,673,224. The firm has a market capitalization of $1.33 billion, a P/E ratio of -3.29 and a beta of 1.19. The firm's 50 day moving average price is $10.37 and its two-hundred day moving average price is $17.81. Dyne Therapeutics, Inc. has a 52 week low of $6.36 and a 52 week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on DYN. Scotiabank began 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 target on the stock. BMO Capital Markets began coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price target on the stock. Chardan Capital reiterated a "buy" rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Friday, May 9th. HC Wainwright decreased their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Guggenheim reissued a "buy" rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.85.

Insider Buying and Selling

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares of the company's stock, valued at $2,777,263.65. The trade was a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 6,237 shares of company stock valued at $77,760. Company insiders own 14.14% 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.