Bank of America Corp DE Trims Stake in Dianthus Therapeutics, Inc. $DNTH

Key Points

• Bank of America reduced its Dianthus Therapeutics stake by 59.4% in the first quarter, selling 276,759 shares and retaining 188,779 shares worth approximately $15.8 million. Institutional investors collectively own 47.53% of DNTH.
• Analyst sentiment remains favorable, with one Strong Buy, twelve Buy, and one Sell rating. The stock has an average “Moderate Buy” rating and a consensus price target of $124.27, while Truist and Wedbush recently raised their targets to $128 and $122, respectively.
• DNTH opened at $109.51 and is near its 52-week high of $117.88, but Dianthus reported a quarterly loss of $0.90 per share, missing estimates by $0.05. Insiders have sold 287,084 shares valued at roughly $29.6 million over the past three months.

Bank of America Corp DE cut its position in Dianthus Therapeutics, Inc. (NASDAQ:DNTH - Free Report) by 59.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 188,779 shares of the company's stock after selling 276,759 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of Dianthus Therapeutics worth $15,842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DNTH. Wellington Management Group LLP increased its holdings in shares of Dianthus Therapeutics by 3,366.9% in the third quarter. Wellington Management Group LLP now owns 2,577,662 shares of the company's stock valued at $101,431,000 after purchasing an additional 2,503,311 shares during the period. Vestal Point Capital LP raised its stake in shares of Dianthus Therapeutics by 88.2% during the second quarter. Vestal Point Capital LP now owns 3,200,000 shares of the company's stock worth $59,616,000 after purchasing an additional 1,499,931 shares during the last quarter. State Street Corp lifted its holdings in shares of Dianthus Therapeutics by 124.7% during the fourth quarter. State Street Corp now owns 1,507,619 shares of the company's stock worth $62,129,000 after purchasing an additional 836,571 shares during the period. Polar Capital Holdings Plc acquired a new stake in shares of Dianthus Therapeutics during the third quarter worth $29,434,000. Finally, Marshall Wace LLP purchased a new position in Dianthus Therapeutics in the 3rd quarter valued at $22,545,000. 47.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on DNTH shares. Truist Financial boosted their price objective on shares of Dianthus Therapeutics from $110.00 to $128.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Guggenheim restated a "buy" rating on shares of Dianthus Therapeutics in a research note on Wednesday, June 10th. Wolfe Research reaffirmed an "outperform" rating on shares of Dianthus Therapeutics in a report on Wednesday, June 10th. Wedbush boosted their price target on shares of Dianthus Therapeutics from $105.00 to $122.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Dianthus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $124.27.

Insider Transactions at Dianthus Therapeutics

In related news, Director Anne Mcgeorge sold 7,750 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $844,827.50. Following the sale, the director owned 1,250 shares of the company's stock, valued at approximately $136,262.50. The trade was a 86.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Simon Read sold 2,778 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $117.55, for a total transaction of $326,553.90. Following the transaction, the director owned 2,778 shares in the company, valued at $326,553.90. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 287,084 shares of company stock valued at $29,615,923. 3.02% of the stock is owned by company insiders.

Dianthus Therapeutics Stock Performance

NASDAQ:DNTH opened at $109.51 on Friday. The stock has a fifty day moving average price of $100.17 and a two-hundred day moving average price of $84.80. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -26.39 and a beta of 1.22. Dianthus Therapeutics, Inc. has a 1 year low of $22.76 and a 1 year high of $117.88.

Dianthus Therapeutics (NASDAQ:DNTH - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.05). The company had revenue of $0.76 million for the quarter, compared to analysts' expectations of $0.30 million. Dianthus Therapeutics had a negative return on equity of 22.53% and a negative net margin of 10,096.95%. On average, analysts predict that Dianthus Therapeutics, Inc. will post -3.83 EPS for the current year.

About Dianthus Therapeutics

Dianthus Therapeutics, Inc, a clinical-stage biotechnology company, develops complement therapeutics for patients with severe autoimmune and inflammatory diseases. It is developing DNTH103, a monoclonal antibody, which is in Phase 2 clinical trial, for the treatment of generalized myasthenia gravis, multifocal motor neuropathy, and chronic inflammatory demyelinating polyneuropathy. Dianthus Therapeutics, Inc was founded in 2019 and is headquartered in New York, New York.

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