Bank of New York Mellon Corp Makes New Investment in Dyne Therapeutics, Inc. $DYN

Key Points

• Bank of New York Mellon initiated a position of 409,801 Dyne Therapeutics shares worth approximately $9.1 million, while institutional investors collectively own 96.68% of the company.
• Dyne reported a quarterly loss of $1.08 per share, missing the consensus estimate of a $0.75 loss; analysts expect a full-year loss of $3.47 per share.
• Insiders sold about 4.14 million shares worth $99.45 million over the past 90 days. Despite the selling, analysts maintain a “Moderate Buy” consensus with an average price target of $34.42 versus the stock’s reported $25.14 price.

Bank of New York Mellon Corp bought a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 409,801 shares of the company's stock, valued at approximately $9,102,000. Bank of New York Mellon Corp owned approximately 0.22% of Dyne Therapeutics at the end of the most recent quarter.

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

Insider Transactions at Dyne Therapeutics

In related news, CFO Erick Lucera sold 2,362 shares of the firm'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 completion of the sale, the chief financial officer directly owned 121,563 shares of the company's stock, valued at approximately $2,476,238.31. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason P. Rhodes sold 2,160,516 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the transaction, the director directly owned 428,946 shares of the company's stock, valued at approximately $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 4,139,196 shares of company stock worth $99,449,852. 9.46% of the stock is currently owned by insiders.

Dyne Therapeutics Stock Performance

Shares of NASDAQ:DYN opened at $25.14 on Thursday. The business has a 50-day moving average of $24.65 and a two-hundred day moving average of $20.26. The firm has a market capitalization of $4.69 billion, a PE ratio of -7.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. Dyne Therapeutics, Inc. has a 12 month low of $11.92 and a 12 month high of $27.31.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, research analysts forecast that Dyne Therapeutics, Inc. will post -3.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DYN shares. Wall Street Zen downgraded shares of Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Morgan Stanley lowered their target price on shares of Dyne Therapeutics from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price target on Dyne Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Sanford C. Bernstein increased their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Dyne Therapeutics presently has an average rating of "Moderate Buy" and an average price target 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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