Dyne Therapeutics, Inc. (NASDAQ:DYN) Shares Sold by Deep Track Capital LP

Deep Track Capital LP lessened its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 39.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,000,000 shares of the company's stock after selling 1,282,000 shares during the period. Dyne Therapeutics comprises approximately 1.8% of Deep Track Capital LP's holdings, making the stock its 18th biggest holding. Deep Track Capital LP owned about 1.97% of Dyne Therapeutics worth $47,120,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc acquired a new position in Dyne Therapeutics in the fourth quarter valued at about $608,000. Raymond James Financial Inc. bought a new position in Dyne Therapeutics during the 4th quarter worth $2,340,000. Barclays PLC increased its stake in Dyne Therapeutics by 162.2% during 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 during the period. Schroder Investment Management Group increased its stake in Dyne Therapeutics by 63.3% in the fourth quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock valued at $3,477,000 after acquiring an additional 56,961 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Dyne Therapeutics by 54.5% during the 4th quarter. Wells Fargo & Company MN now owns 38,754 shares of the company's stock valued at $913,000 after purchasing an additional 13,677 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DYN. HC Wainwright lowered their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a report on Friday. Royal Bank of Canada restated an "outperform" rating and set a $45.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Guggenheim reiterated a "buy" rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. BMO Capital Markets initiated coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective for the company. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.85.

Dyne Therapeutics Stock Performance

Shares of NASDAQ:DYN traded up $1.51 during midday trading on Monday, hitting $12.92. The company's stock had a trading volume of 2,352,961 shares, compared to its average volume of 1,650,446. The business's 50 day simple moving average is $10.37 and its 200 day simple moving average is $17.98. The company has a market cap of $1.47 billion, a P/E ratio of -3.63 and a beta of 1.19. Dyne Therapeutics, Inc. has a 12-month low of $6.36 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.17). On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

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 value of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares of the company's stock, valued at approximately $2,777,263.65. The trade was a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 6,237 shares of company stock valued at $77,760. 14.14% of the stock is currently owned by corporate insiders.

Dyne Therapeutics 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.