Vestal Point Capital LP Invests $18.83 Million in Dyne Therapeutics, Inc. $DYN

Key Points

• Vestal Point Capital LP acquired 1,800,000 shares of Dyne Therapeutics, Inc. (NASDAQ:DYN), valuing the purchase at approximately $18.8 million, making it the company's 24th largest position in Vestal's portfolio.
• Several institutional investors, including RA Capital Management L.P. and Braidwell LP, significantly increased their positions in Dyne Therapeutics, indicating strong institutional interest.
• Dyne Therapeutics reported earnings of ($0.97) per share for the last quarter, surpassing analyst expectations of ($0.99), with an average analyst rating of "Buy" and a target price of $34.07.

Vestal Point Capital LP acquired a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,800,000 shares of the company's stock, valued at approximately $18,828,000. Dyne Therapeutics makes up approximately 1.3% of Vestal Point Capital LP's holdings, making the stock its 24th biggest holding. Vestal Point Capital LP owned about 1.58% of Dyne Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. RA Capital Management L.P. grew its holdings in Dyne Therapeutics by 52.2% in the 1st quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company's stock worth $101,613,000 after buying an additional 3,333,248 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Dyne Therapeutics in the 1st quarter worth approximately $15,097,000. Palo Alto Investors LP acquired a new position in shares of Dyne Therapeutics during the 1st quarter valued at $3,487,000. PDT Partners LLC acquired a new position in shares of Dyne Therapeutics during the 1st quarter valued at $2,345,000. Finally, Braidwell LP increased its position in shares of Dyne Therapeutics by 431.6% during the 1st quarter. Braidwell LP now owns 3,621,344 shares of the company's stock valued at $37,879,000 after purchasing an additional 2,940,162 shares during the period. 96.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on DYN. Jones Trading began coverage on Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Chardan Capital reduced their price objective on Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Raymond James Financial raised Dyne Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $31.00 to $35.00 in a research note on Monday, August 25th. Finally, Royal Bank Of Canada reduced their price objective on Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $34.07.

Dyne Therapeutics Stock Down 1.8%

Shares of DYN traded down $0.24 during mid-day trading on Thursday, reaching $13.24. The company's stock had a trading volume of 1,751,830 shares, compared to its average volume of 2,419,008. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -3.43 and a beta of 1.10. The business has a fifty day moving average of $10.70 and a 200 day moving average of $11.16. The company has a quick ratio of 16.83, a current ratio of 16.83 and a debt-to-equity ratio of 0.17. Dyne Therapeutics, Inc. has a 1 year low of $6.36 and a 1 year high of $37.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.02. As a group, analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox bought 100,000 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was acquired at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the transaction, the chief executive officer directly owned 242,179 shares in the company, valued at approximately $2,206,250.69. This represents a 70.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.14% of the stock is currently 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.