Dyne Therapeutics, Inc. $DYN Shares Bought by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Dyne Therapeutics by 187% in Q1 2023, owning approximately 2.44% of the company worth $28.9 million.
• Several institutional investors, including Rhumbline Advisers and GAMMA Investing LLC, also boosted their holdings, reflecting growing interest in the company.
• Wall Street analysts have recently lowered target prices for Dyne Therapeutics, with an average target price of $34.07 and a consensus rating of "Buy".

Armistice Capital LLC raised its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 187.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,768,000 shares of the company's stock after acquiring an additional 1,803,482 shares during the period. Armistice Capital LLC owned approximately 2.44% of Dyne Therapeutics worth $28,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in shares of Dyne Therapeutics by 4.2% during the 1st quarter. Rhumbline Advisers now owns 133,627 shares of the company's stock worth $1,398,000 after buying an additional 5,383 shares in the last quarter. GAMMA Investing LLC increased its stake in Dyne Therapeutics by 837.5% in the 1st quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock valued at $251,000 after purchasing an additional 2,345 shares in the last quarter. Northern Trust Corp increased its stake in Dyne Therapeutics by 7.7% in the 4th quarter. Northern Trust Corp now owns 777,013 shares of the company's stock valued at $18,306,000 after purchasing an additional 55,511 shares in the last quarter. Arizona State Retirement System increased its stake in Dyne Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock valued at $183,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Swiss National Bank increased its stake in Dyne Therapeutics by 8.9% in the 1st quarter. Swiss National Bank now owns 118,300 shares of the company's stock valued at $1,237,000 after purchasing an additional 9,700 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Trading Up 6.7%

Shares of DYN stock traded up $0.89 during mid-day trading on Friday, hitting $14.13. 1,410,475 shares of the company's stock were exchanged, compared to its average volume of 2,624,941. Dyne Therapeutics, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $37.08. The stock has a 50-day simple moving average of $10.70 and a two-hundred day simple 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. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -3.63 and a beta of 1.10.

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 (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.02. Equities analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity

In other 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, for a total transaction of $911,000.00. Following the acquisition, the chief executive officer owned 242,179 shares of the company's stock, valued at $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 14.14% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DYN shares. Robert W. Baird dropped their price objective on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Chardan Capital dropped 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. HC Wainwright dropped their price target on Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Oppenheimer dropped their price target on Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Dyne Therapeutics in a research report on Friday, July 11th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $34.07.

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.