Cibc World Market Inc. Takes $1.68 Million Position in Dyne Therapeutics, Inc. $DYN

Key Points

• CIBC World Markets acquired 75,783 shares of Dyne Therapeutics worth approximately $1.68 million in the second quarter. Institutional investors and hedge funds collectively own 96.68% of the company.
• Dyne shares opened at $26.09, near their 12-month high of $27.31, but the company reported a quarterly loss of $1.08 per share, missing analysts’ estimate of $0.75.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $34.42, although insiders sold roughly $99.45 million of stock over the past three months.

Cibc World Market Inc. acquired a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 75,783 shares of the company's stock, valued at approximately $1,683,000.

A number of other hedge funds have also made changes to their positions in DYN. Handelsbanken Fonder AB acquired a new position in shares of Dyne Therapeutics during the 2nd quarter valued at $1,182,000. Fisher Asset Management LLC acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at $4,891,000. Clearbridge Investments LLC acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at $7,976,000. Royal Bank of Canada lifted its holdings in shares of Dyne Therapeutics by 267.6% in the first quarter. Royal Bank of Canada now owns 68,188 shares of the company's stock valued at $1,236,000 after buying an additional 49,641 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its stake in Dyne Therapeutics by 16.0% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company's stock valued at $61,674,000 after buying an additional 434,977 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company's stock.

Dyne Therapeutics Trading Down 1.0%

Shares of NASDAQ DYN opened at $26.09 on Friday. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics, Inc. has a 12 month low of $11.92 and a 12 month high of $27.31. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -7.83 and a beta of 1.07. The business has a fifty day simple moving average of $24.26 and a 200-day simple moving average of $20.02.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.33). Sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.47 EPS for the current year.

Insider Activity at Dyne Therapeutics

In related news, Director Jason P. Rhodes sold 2,160,516 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $25.00, for a total value of $54,012,900.00. Following the completion of the sale, the director owned 428,946 shares in the company, valued at approximately $10,723,650. This represents a 83.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian S. Posner acquired 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $17.48 per share, with a total value of $43,700.00. Following the purchase, the director directly owned 22,500 shares in the company, valued at approximately $393,300. This trade represents a 12.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 4,139,196 shares of company stock worth $99,449,852. 9.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DYN has been the topic of a number of research analyst reports. Wall Street Zen lowered Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Cantor Fitzgerald began coverage on shares of Dyne Therapeutics in a research report on Thursday, July 23rd. They set an "overweight" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday, August 17th. Evercore set a $33.00 target price on shares of Dyne Therapeutics in a research note on Friday, May 15th. Finally, Morgan Stanley reduced their target price on shares of Dyne Therapeutics from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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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