PDT Partners LLC Takes Position in Dyne Therapeutics, Inc. $DYN

Key Points

• PDT Partners LLC acquired 224,176 shares of Dyne Therapeutics valued at approximately $2.35 million, now holding about 0.20% of the company's stock.
• CEO John Cox purchased 100,000 shares at an average cost of $9.11 per share, increasing his ownership in the company to 242,179 shares.
• Analysts have upgraded the stock to a consensus rating of "Buy" with an average target price of $34.07.

PDT Partners LLC bought a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 224,176 shares of the company's stock, valued at approximately $2,345,000. PDT Partners LLC owned approximately 0.20% of Dyne Therapeutics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Dyne Therapeutics by 378.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock worth $32,000 after buying an additional 2,446 shares in the last quarter. Quarry LP purchased a new stake in shares of Dyne Therapeutics in the first quarter worth about $47,000. GF Fund Management CO. LTD. purchased a new stake in Dyne Therapeutics during the fourth quarter valued at $50,000. E Fund Management Co. Ltd. raised its stake in Dyne Therapeutics by 16.2% during the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock valued at $144,000 after purchasing an additional 1,923 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in Dyne Therapeutics during the first quarter valued at $171,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jones Trading assumed coverage on shares of Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Oppenheimer decreased their target price on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Evercore ISI restated an "outperform" rating on shares of Dyne Therapeutics in a research report on Friday, July 11th. Finally, Chardan Capital decreased their target price on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Dyne Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $34.07.

Dyne Therapeutics Trading Down 1.8%

Shares of DYN traded down $0.24 during mid-day trading on Thursday, reaching $13.24. 1,751,830 shares of the company's stock traded hands, compared to its average volume of 2,419,008. The stock has a market cap of $1.88 billion, a P/E ratio of -3.43 and a beta of 1.10. The stock's 50-day moving average is $10.70 and its two-hundred day moving average is $11.16. Dyne Therapeutics, Inc. has a 12 month low of $6.36 and a 12 month high of $37.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, beating analysts' consensus estimates of ($0.99) by $0.02. Research 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 business's stock in a transaction dated Monday, July 14th. The shares were purchased at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the purchase, the chief executive officer owned 242,179 shares in the company, valued at $2,206,250.69. This represents a 70.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 14.14% of the company's stock.

About Dyne Therapeutics

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.