Siren L.L.C. Purchases 1,370,531 Shares of Dyne Therapeutics, Inc. $DYN

Key Points

• Siren L.L.C. substantially increased its position in Dyne Therapeutics, owning 2,717,987 shares after acquiring over 1.3 million additional shares in the first quarter.
• CEO John Cox purchased 100,000 shares at $9.11 each, raising his personal stake by 70.33% to approximately $2.2 million.
• Analysts have adjusted price targets for Dyne Therapeutics, with rating shifts ranging from a drop to $23.00 by Royal Bank Of Canada, to a reaffirmation of a $50.00 target by Guggenheim.

Siren L.L.C. grew its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 101.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,717,987 shares of the company's stock after buying an additional 1,370,531 shares during the quarter. Dyne Therapeutics makes up approximately 1.6% of Siren L.L.C.'s portfolio, making the stock its 19th largest position. Siren L.L.C. owned approximately 2.39% of Dyne Therapeutics worth $28,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DYN. Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $32,000 after buying an additional 2,446 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Dyne Therapeutics in the fourth quarter worth about $50,000. E Fund Management Co. Ltd. boosted its holdings 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 worth $144,000 after buying an additional 1,923 shares during the period. AlphaQuest LLC acquired a new position in shares of Dyne Therapeutics in the first quarter worth about $171,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Dyne Therapeutics in the first quarter worth about $179,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Down 1.9%

NASDAQ DYN traded down $0.26 during trading on Friday, reaching $13.49. The company's stock had a trading volume of 1,972,770 shares, compared to its average volume of 3,094,324. The company has a current ratio of 16.83, a quick ratio of 16.83 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.92 billion, a PE ratio of -3.49 and a beta of 1.10. The business has a 50-day moving average price of $10.45 and a 200-day moving average price of $11.13. Dyne Therapeutics, Inc. has a 1-year low of $6.36 and a 1-year high of $46.26.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on DYN shares. JPMorgan Chase & Co. decreased their target price 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. Evercore ISI restated an "outperform" rating on shares of Dyne Therapeutics in a report on Friday, July 11th. Guggenheim restated a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday, June 18th. HC Wainwright decreased their price target 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. Finally, Sanford C. Bernstein started coverage on shares of Dyne Therapeutics in a report on Tuesday, June 24th. They set a "market perform" rating and a $13.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $34.07.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox bought 100,000 shares of Dyne Therapeutics stock in a transaction on Monday, July 14th. The stock was purchased at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the purchase, the chief executive officer directly owned 242,179 shares of the company's stock, valued at $2,206,250.69. The trade was a 70.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.77% of the stock is owned by company insiders.

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.