Bank of America Corp DE Has $26.17 Million Holdings in Dyne Therapeutics, Inc. $DYN

Key Points

• Bank of America increased its Dyne Therapeutics stake by 63.5% in the first quarter, acquiring 560,391 additional shares. Its holdings totaled 1.44 million shares valued at $26.17 million, while institutional investors and hedge funds owned 96.68% of DYN.
• Insider activity was mixed: a director bought 2,000 shares, while the CFO sold 2,362 shares. Overall, insiders purchased $156,800 worth of stock but sold approximately $34.26 million during the quarter.
• Dyne shares opened at $25.70, near their 12-month high of $27.31, despite the company missing quarterly EPS estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $34.42.

Bank of America Corp DE increased its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 63.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,443,313 shares of the company's stock after purchasing an additional 560,391 shares during the period. Bank of America Corp DE owned approximately 0.87% of Dyne Therapeutics worth $26,167,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DYN. T. Rowe Price Investment Management Inc. boosted its stake in shares of Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company's stock worth $343,085,000 after acquiring an additional 14,727,667 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Dyne Therapeutics by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company's stock valued at $219,376,000 after acquiring an additional 1,455,151 shares in the last quarter. State Street Corp raised its stake in shares of Dyne Therapeutics by 27.0% in the 4th quarter. State Street Corp now owns 6,692,745 shares of the company's stock valued at $130,910,000 after acquiring an additional 1,423,828 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Dyne Therapeutics by 45.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company's stock worth $101,164,000 after purchasing an additional 1,618,000 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in Dyne Therapeutics in the 4th quarter worth approximately $93,926,000. 96.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dyne Therapeutics

In related news, Director Brian S. Posner bought 2,000 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of $16.94 per share, with a total value of $33,880.00. Following the completion of the transaction, the director owned 24,500 shares of the company's stock, valued at $415,030. The trade was a 8.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erick Lucera sold 2,362 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total transaction of $48,113.94. Following the transaction, the chief financial officer owned 121,563 shares of the company's stock, valued at approximately $2,476,238.31. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 9,000 shares of company stock worth $156,800 and have sold 1,552,268 shares worth $34,264,958. 9.46% of the stock is currently owned by corporate insiders.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $25.70 on Monday. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -7.72 and a beta of 1.07. The business has a 50 day moving average price of $22.83 and a 200 day moving average price of $19.50. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics, Inc. has a twelve month low of $11.65 and a twelve month high of $27.31.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.33). Research analysts predict that Dyne Therapeutics, Inc. will post -3.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DYN shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Sanford C. Bernstein lifted their price target on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Morgan Stanley decreased their price objective on shares of Dyne Therapeutics from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Finally, Cantor Fitzgerald assumed coverage on shares of Dyne Therapeutics in a research note on Thursday, July 23rd. They issued an "overweight" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.42.

Dyne Therapeutics Profile

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company's proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne's lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.

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