Bank of New York Mellon Corp Buys New Position in Dianthus Therapeutics, Inc. $DNTH

Key Points

• Bank of New York Mellon purchased 256,393 shares of Dianthus Therapeutics worth approximately $25 million, while institutional investors collectively own 47.53% of the company.
• Insiders sold 260,554 shares valued at about $27.2 million in the past quarter, including substantial reductions by CEO Marino Garcia and Director Simon Read.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and average price target of $124.27; the stock recently traded at $105.84 after the company reported a quarterly EPS loss exceeding estimates.

Bank of New York Mellon Corp purchased a new position in shares of Dianthus Therapeutics, Inc. (NASDAQ:DNTH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 256,393 shares of the company's stock, valued at approximately $24,993,000. Bank of New York Mellon Corp owned approximately 0.47% of Dianthus Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestal Point Capital LP boosted its stake in shares of Dianthus Therapeutics by 88.2% in the second quarter. Vestal Point Capital LP now owns 3,200,000 shares of the company's stock valued at $59,616,000 after purchasing an additional 1,499,931 shares during the period. Wellington Management Group LLP boosted its position in Dianthus Therapeutics by 3,366.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,577,662 shares of the company's stock valued at $101,431,000 after buying an additional 2,503,311 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Dianthus Therapeutics by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 2,048,452 shares of the company's stock valued at $84,417,000 after acquiring an additional 406,254 shares in the last quarter. TCG Crossover Management LLC grew its stake in shares of Dianthus Therapeutics by 11.7% during the third quarter. TCG Crossover Management LLC now owns 1,676,624 shares of the company's stock valued at $65,975,000 after acquiring an additional 175,000 shares in the last quarter. Finally, State Street Corp increased its position 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 acquiring an additional 836,571 shares during the last quarter. Hedge funds and other institutional investors own 47.53% of the company's stock.

Insiders Place Their Bets

In related news, Director Simon Read sold 2,778 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $117.55, for a total transaction of $326,553.90. Following the completion of the transaction, the director directly owned 2,778 shares in the company, valued at $326,553.90. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marino Garcia sold 166,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $108.11, for a total value of $17,946,260.00. Following the transaction, the chief executive officer owned 65,292 shares of the company's stock, valued at approximately $7,058,718.12. The trade was a 71.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 260,554 shares of company stock worth $27,211,775. 3.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Guggenheim reiterated a "buy" rating on shares of Dianthus Therapeutics in a research note on Wednesday, June 10th. TD Cowen restated a "buy" rating on shares of Dianthus Therapeutics in a research note on Wednesday, June 10th. Wall Street Zen upgraded Dianthus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Wedbush upped their target price on Dianthus Therapeutics from $105.00 to $122.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Dianthus Therapeutics in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Dianthus Therapeutics has an average rating of "Moderate Buy" and an average target price of $124.27.

Dianthus Therapeutics Stock Performance

Dianthus Therapeutics stock opened at $105.84 on Monday. Dianthus Therapeutics, Inc. has a 1 year low of $22.81 and a 1 year high of $117.88. The firm's 50-day moving average is $103.59 and its 200-day moving average is $87.32. The company has a market cap of $5.79 billion, a P/E ratio of -25.50 and a beta of 1.22.

Dianthus Therapeutics (NASDAQ:DNTH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.05). The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $0.30 million. Dianthus Therapeutics had a negative net margin of 10,096.95% and a negative return on equity of 22.53%. As a group, sell-side analysts predict that Dianthus Therapeutics, Inc. will post -3.83 earnings per share for the current year.

Dianthus Therapeutics Profile

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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