Adage Capital Partners GP L.L.C. Sells 452,972 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Adage Capital Partners GP L.L.C. decreased its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,950,000 shares of the company's stock after selling 452,972 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.92% of Dyne Therapeutics worth $45,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Dyne Therapeutics by 45.3% during the 4th quarter. KBC Group NV now owns 3,135 shares of the company's stock worth $74,000 after acquiring an additional 978 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Dyne Therapeutics by 9.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company's stock worth $203,000 after buying an additional 721 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Dyne Therapeutics in the fourth quarter valued at $257,000. Magnetar Financial LLC acquired a new stake in Dyne Therapeutics during the fourth quarter worth about $263,000. Finally, E Fund Management Co. Ltd. raised its holdings in shares of Dyne Therapeutics by 11.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 11,848 shares of the company's stock worth $279,000 after purchasing an additional 1,249 shares during the period. Institutional investors and hedge funds own 96.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DYN shares. BMO Capital Markets started coverage on Dyne Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $46.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Chardan Capital reiterated a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday, March 17th. Finally, Scotiabank initiated coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $47.46.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN traded down $0.08 during mid-day trading on Wednesday, hitting $11.64. The company's stock had a trading volume of 768,117 shares, compared to its average volume of 1,542,312. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -3.27 and a beta of 1.21. The company's fifty day simple moving average is $10.69 and its 200-day simple moving average is $19.33. Dyne Therapeutics, Inc. has a one year low of $6.36 and a one year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Activity

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction 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. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 6,237 shares of company stock valued at $77,760. 20.77% of the stock is owned by company 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.