Palo Alto Investors LP Purchases Shares of 333,391 Dyne Therapeutics, Inc. $DYN

Key Points

• Palo Alto Investors LP has acquired 333,391 shares of Dyne Therapeutics, Inc., valued at approximately $3.49 million, marking it as the company's 22nd largest position in its portfolio.
• Several hedge funds, like Rhumbline Advisers and GAMMA Investing LLC, have increased their stakes in Dyne Therapeutics, with institutional investors collectively owning 96.68% of the company's stock.
• Dyne Therapeutics reported earnings per share (EPS) of ($0.97), beating estimates by $0.02, and has a current consensus rating of Buy with an average target price of $34.07.

Palo Alto Investors LP purchased a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 333,391 shares of the company's stock, valued at approximately $3,487,000. Dyne Therapeutics accounts for about 0.7% of Palo Alto Investors LP's portfolio, making the stock its 22nd biggest position. Palo Alto Investors LP owned approximately 0.29% of Dyne Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Dyne Therapeutics during the fourth quarter valued at about $50,000. GAMMA Investing LLC grew its position in Dyne Therapeutics by 837.5% in the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock worth $251,000 after acquiring an additional 2,345 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in 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 acquiring an additional 2,446 shares in the last quarter. Quarry LP purchased a new position in Dyne Therapeutics in the first quarter worth about $47,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Dyne Therapeutics during the fourth quarter valued at approximately $205,000. 96.68% of the stock is owned by institutional investors.

Insider Activity

In other Dyne Therapeutics news, CEO John Cox purchased 100,000 shares of Dyne Therapeutics stock in a transaction dated Monday, July 14th. The shares were acquired at an average cost of $9.11 per share, with a total value of $911,000.00. Following the completion of the transaction, the chief executive officer owned 242,179 shares in the company, valued at approximately $2,206,250.69. This trade represents a 70.33% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 14.14% of the company's stock.

Dyne Therapeutics Stock Down 1.8%

Shares of DYN stock traded down $0.24 during trading hours on Thursday, reaching $13.24. 1,751,830 shares of the company's stock were exchanged, compared to its average volume of 2,419,008. The stock's 50 day moving average is $10.70 and its 200-day moving average is $11.16. 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 company has a current ratio of 16.83, a quick ratio of 16.83 and a debt-to-equity ratio of 0.17. Dyne Therapeutics, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $37.08.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DYN shares. Sanford C. Bernstein assumed coverage on Dyne Therapeutics in a research report on Tuesday, June 24th. They set a "market perform" rating and a $13.00 target price for the company. Chardan Capital reduced their price objective on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Oppenheimer reduced their price objective on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus reduced their price objective on shares of Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $34.07.

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.