Candriam S.C.A. Raises Position in Dyne Therapeutics, Inc. $DYN

Key Points

• Candriam S.C.A. increased its holdings in Dyne Therapeutics, Inc. by 15.4%, acquiring an additional 61,973 shares, bringing its total to approximately 463,368 shares valued at $4.8 million.
• Several institutional investors, including Caitong International Asset Management and E Fund Management, have also significantly increased their stakes in Dyne Therapeutics, contributing to institutional ownership of 96.68%.
• Analysts currently have a consensus rating of "Buy" for Dyne Therapeutics, with an average target price of $33.80, despite recent adjustments in target prices from various firms.

Candriam S.C.A. boosted its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,368 shares of the company's stock after buying an additional 61,973 shares during the quarter. Candriam S.C.A. owned approximately 0.41% of Dyne Therapeutics worth $4,847,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Dyne Therapeutics by 378.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after acquiring an additional 2,446 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Dyne Therapeutics during the 4th quarter valued at $50,000. E Fund Management Co. Ltd. grew its position in shares of Dyne Therapeutics by 16.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock worth $144,000 after buying an additional 1,923 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Dyne Therapeutics during the first quarter valued at $179,000. Finally, Arizona State Retirement System increased its stake in shares of Dyne Therapeutics by 9.2% during the first quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock valued at $183,000 after buying an additional 1,481 shares during the period. 96.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DYN has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Robert W. Baird cut their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Sanford C. Bernstein initiated coverage on shares of Dyne Therapeutics in a research report on Tuesday, June 24th. They set a "market perform" rating and a $13.00 target price for the company. Royal Bank Of Canada cut their price target on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, July 29th. Finally, Chardan Capital decreased their price objective on Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics presently has a consensus rating of "Buy" and an average price target of $34.07.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN traded up $0.34 during midday trading on Thursday, reaching $13.98. 1,104,486 shares of the stock were exchanged, compared to its average volume of 2,621,359. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -3.61 and a beta of 1.08. The company has a quick ratio of 16.83, a current ratio of 16.83 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $10.33 and a two-hundred day simple moving average of $11.18. Dyne Therapeutics, Inc. has a twelve month low of $6.36 and a twelve month high of $46.26.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. As a group, analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox acquired 100,000 shares of the business's stock in a transaction dated Monday, July 14th. The stock was acquired at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the transaction, the chief executive officer directly owned 242,179 shares of the company's stock, valued at $2,206,250.69. This represents a 70.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.14% of the company's stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.