Dyne Therapeutics, Inc. $DYN Shares Purchased by Braidwell LP

Key Points

• Braidwell LP significantly increased its stake in Dyne Therapeutics, acquiring 3,621,344 shares, which represents a 431.6% increase during the first quarter, valuing its holdings at approximately $37.9 million.
• CEO John Cox purchased an additional 100,000 shares of Dyne Therapeutics at an average price of $9.11, raising his total share ownership to 242,179 shares.
• Shares of Dyne Therapeutics opened at $13.49, showing a 1.9% decline, with analysts forecasting a consensus target price of $34.07 and a total of three "Strong Buy" ratings from research analysts.

Braidwell LP grew its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 431.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,621,344 shares of the company's stock after buying an additional 2,940,162 shares during the period. Braidwell LP owned 3.19% of Dyne Therapeutics worth $37,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Dyne Therapeutics by 378.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after buying an additional 2,446 shares during the last quarter. Quarry LP acquired a new stake in shares of Dyne Therapeutics in the first quarter valued at about $47,000. GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics in the fourth quarter valued at about $50,000. E Fund Management Co. Ltd. raised its position in shares of Dyne Therapeutics by 16.2% in the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock valued at $144,000 after buying an additional 1,923 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Dyne Therapeutics in the first quarter valued at about $171,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DYN has been the subject of a number of recent research reports. Raymond James Financial upgraded shares of Dyne Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $31.00 to $35.00 in a research report on Monday, August 25th. Robert W. Baird dropped their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, June 18th. HC Wainwright dropped their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Finally, Evercore ISI reissued an "outperform" rating on shares of Dyne Therapeutics in a report on Friday, July 11th. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $34.07.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox acquired 100,000 shares of the stock in a transaction dated Monday, July 14th. The stock was acquired at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the purchase, the chief executive officer owned 242,179 shares in the company, valued at $2,206,250.69. This trade represents a 70.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.77% of the company's stock.

Dyne Therapeutics Trading Down 1.8%

DYN stock traded down $0.24 during mid-day trading on Thursday, hitting $13.24. 1,751,830 shares of the company were exchanged, compared to its average volume of 2,632,756. 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 market capitalization of $1.88 billion, a P/E ratio of -3.43 and a beta of 1.10. The business has a fifty day simple moving average of $10.63 and a 200-day simple moving average of $11.16. Dyne Therapeutics, Inc. has a 12-month low of $6.36 and a 12-month high of $37.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.02. On average, equities research analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

About Dyne Therapeutics

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.