Bank of New York Mellon Corp Buys 48,119 Shares of Dyne Therapeutics, Inc. $DYN

Key Points

• Bank of New York Mellon increased its Dyne Therapeutics stake by 13.6% in the first quarter, adding 48,119 shares to own 401,616 shares valued at approximately $7.3 million. Institutional investors and hedge funds collectively own 96.68% of DYN.
• Dyne shares opened at $25.24, near their 52-week high of $26.26, despite the company reporting a quarterly loss of $1.08 per share—worse than analysts’ expected loss of $0.75.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $34.42; however, insiders have sold substantially more stock than they purchased over the past 90 days.

Bank of New York Mellon Corp boosted its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,616 shares of the company's stock after purchasing an additional 48,119 shares during the quarter. Bank of New York Mellon Corp owned 0.24% of Dyne Therapeutics worth $7,281,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Dyne Therapeutics during the 1st quarter worth about $26,000. Strs Ohio acquired a new position in Dyne Therapeutics during the fourth quarter worth $51,000. Aster Capital Management DIFC Ltd bought a new stake in Dyne Therapeutics during the fourth quarter worth $84,000. Steward Partners Investment Advisory LLC raised its position in Dyne Therapeutics by 102.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company's stock worth $95,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Dyne Therapeutics by 275.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company's stock valued at $100,000 after acquiring an additional 7,697 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John Cox sold 3,311 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $18.36, for a total value of $60,789.96. Following the completion of the transaction, the chief executive officer directly owned 370,834 shares of the company's stock, valued at approximately $6,808,512.24. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 480,240 shares of Dyne Therapeutics stock in a transaction on Monday, July 6th. The shares were sold at an average price of $22.79, for a total value of $10,944,669.60. Following the completion of the transaction, the director owned 875,912 shares of the company's stock, valued at approximately $19,962,034.48. This trade represents a 35.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have purchased 9,000 shares of company stock worth $156,800 and have sold 1,642,038 shares worth $35,898,156. Corporate insiders own 9.46% of the company's stock.

Dyne Therapeutics Trading Up 0.2%

Shares of DYN stock opened at $25.24 on Tuesday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -7.58 and a beta of 1.06. The stock has a 50-day moving average of $21.39 and a 200-day moving average of $18.93. The company has a current ratio of 12.02, a quick ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics, Inc. has a 1-year low of $9.89 and a 1-year high of $26.26.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its 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). On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DYN. Sanford C. Bernstein boosted their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. TD Cowen started coverage on Dyne Therapeutics in a research note on Friday, June 26th. They set a "buy" rating for the company. Royal Bank Of Canada increased their price target on Dyne Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Finally, Evercore set a $33.00 price objective on shares of Dyne Therapeutics in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.42.

About Dyne Therapeutics

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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