Graham Capital Management L.P. Acquires New Stake in Dyne Therapeutics, Inc. $DYN

Key Points

• Graham Capital Management L.P. has acquired 62,269 shares of Dyne Therapeutics, Inc., valued at approximately $651,000, which represents a 0.05% stake in the company.
• CEO John Cox purchased 100,000 shares of Dyne Therapeutics at an average price of $9.11 per share, significantly increasing his ownership stake by 70.33% to a total of 242,179 shares worth $2.2 million.
• Recently, several brokerages have adjusted their price targets for Dyne Therapeutics, with a consensus target price now set at $34.07 and an overall "Buy" rating from analysts.

Graham Capital Management L.P. bought a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 62,269 shares of the company's stock, valued at approximately $651,000. Graham Capital Management L.P. owned 0.05% of Dyne Therapeutics as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Armistice Capital LLC raised its holdings in shares of Dyne Therapeutics by 187.0% during the first quarter. Armistice Capital LLC now owns 2,768,000 shares of the company's stock valued at $28,953,000 after purchasing an additional 1,803,482 shares during the period. Quarry LP bought a new stake in Dyne Therapeutics in the 1st quarter valued at about $47,000. Siren L.L.C. raised its stake in Dyne Therapeutics by 101.7% during the 1st quarter. Siren L.L.C. now owns 2,717,987 shares of the company's stock worth $28,430,000 after buying an additional 1,370,531 shares during the period. Trexquant Investment LP boosted its holdings in Dyne Therapeutics by 166.7% in the first quarter. Trexquant Investment LP now owns 334,443 shares of the company's stock worth $3,498,000 after acquiring an additional 209,065 shares in the last quarter. Finally, Comerica Bank grew its stake in Dyne Therapeutics by 16.3% in the first quarter. Comerica Bank now owns 41,176 shares of the company's stock valued at $431,000 after acquiring an additional 5,767 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John Cox acquired 100,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was acquired at an average price of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the acquisition, the chief executive officer owned 242,179 shares of the company's stock, valued at approximately $2,206,250.69. This represents a 70.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Dyne Therapeutics in a research note on Tuesday, June 24th. They set a "market perform" rating and a $13.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, July 29th. 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 for the company. Guggenheim restated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Finally, Stifel Nicolaus cut their price target on 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 research 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 stock. According to MarketBeat, Dyne Therapeutics currently has an average rating of "Buy" and a consensus target price of $34.07.

Dyne Therapeutics Stock Performance

Shares of DYN stock traded down $0.10 during trading on Thursday, hitting $13.18. The company's stock had a trading volume of 1,669,681 shares, compared to its average volume of 2,212,977. The company has a current ratio of 16.83, a quick ratio of 16.83 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.87 billion, a PE ratio of -3.41 and a beta of 1.10. The business has a fifty day moving average of $11.13 and a 200-day moving average of $11.14. Dyne Therapeutics, Inc. has a 52 week low of $6.36 and a 52 week high of $37.08.

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

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.