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

Key Points

• CIBC World Markets disclosed a new fourth-quarter stake in Dyne Therapeutics, buying 68,766 shares worth about $1.35 million. Other institutions also increased or initiated positions, and hedge funds/other investors now own 96.68% of the stock.
• Insiders sold shares over the past 90 days, including major sales by director Jason P. Rhodes and insider Douglas Kerr. The insider activity was largely tied to a pre-arranged trading plan and tax withholding obligations.
• Dyne Therapeutics beat quarterly EPS estimates, reporting a loss of $0.73 per share versus expectations of $0.77. The stock was up 6.6% and analysts currently rate it a Moderate Buy with a consensus price target of $35.

Cibc World Market Inc. acquired a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 68,766 shares of the company's stock, valued at approximately $1,345,000.

A number of other hedge funds have also made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Dyne Therapeutics in the 4th quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Dyne Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,940 shares of the company's stock valued at $136,000 after purchasing an additional 1,440 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Dyne Therapeutics by 275.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company's stock valued at $100,000 after purchasing an additional 7,697 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Dyne Therapeutics by 1,006.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,499 shares of the company's stock valued at $205,000 after purchasing an additional 9,550 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $147,000. Hedge funds and other institutional investors own 96.68% of the company's stock.

Insiders Place Their Bets

In other news, insider Douglas Kerr sold 1,564 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $18.36, for a total value of $28,715.04. Following the completion of the sale, the insider directly owned 170,042 shares of the company's stock, valued at $3,121,971.12. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 83,219 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $18.18, for a total value of $1,512,921.42. Following the completion of the sale, the director directly owned 7,962 shares of the company's stock, valued at $144,749.16. This represents a 91.27% 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 ninety days, insiders acquired 9,000 shares of company stock worth $156,800 and sold 1,559,462 shares worth $29,814,746. 9.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Chardan Capital reaffirmed a "buy" rating and set a $38.00 price objective on shares of Dyne Therapeutics in a research report on Monday, March 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Dyne Therapeutics in a research report on Monday, April 20th. Wall Street Zen raised Dyne Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Morgan Stanley decreased their price objective on Dyne Therapeutics from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Dyne Therapeutics in a research report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Dyne Therapeutics Stock Up 6.6%

Dyne Therapeutics stock opened at $17.92 on Wednesday. The company has a current ratio of 19.92, a quick ratio of 19.92 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $18.26 and a two-hundred day moving average of $18.22. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -5.57 and a beta of 1.09. Dyne Therapeutics, Inc. has a twelve month low of $8.06 and a twelve month high of $25.00.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.04. During the same period last year, the firm earned ($1.05) earnings per share. As a group, research analysts expect that Dyne Therapeutics, Inc. will post -3 earnings per share for the current year.

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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