Dyne Therapeutics, Inc. $DYN Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Dyne Therapeutics by 64.4% during the first quarter, owning approximately 66,293 shares valued at $693,000.
• Several hedge funds, including Vanguard Group and Point72 Asset Management, have significantly enlarged their positions in Dyne Therapeutics, reflecting a strong institutional interest in the stock.
• Despite this interest, shares of Dyne Therapeutics opened at $13.24, reflecting a 1.8% decrease, with a market capitalization of $1.88 billion and a consensus price target of $34.07 based on analyst ratings.

Invesco Ltd. grew its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 64.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,293 shares of the company's stock after buying an additional 25,970 shares during the quarter. Invesco Ltd. owned 0.06% of Dyne Therapeutics worth $693,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DYN. Jefferies Financial Group Inc. purchased a new stake in shares of Dyne Therapeutics in the 4th quarter worth $42,408,000. Point72 Asset Management L.P. lifted its stake in shares of Dyne Therapeutics by 802.3% during the 4th quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company's stock worth $21,785,000 after purchasing an additional 822,201 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Dyne Therapeutics by 10.5% during the 1st quarter. Vanguard Group Inc. now owns 7,406,344 shares of the company's stock worth $77,470,000 after purchasing an additional 702,418 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Dyne Therapeutics by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company's stock worth $173,808,000 after purchasing an additional 566,146 shares during the last quarter. Finally, Orbimed Advisors LLC lifted its stake in shares of Dyne Therapeutics by 73.2% during the 4th quarter. Orbimed Advisors LLC now owns 1,227,080 shares of the company's stock worth $28,910,000 after purchasing an additional 518,680 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Performance

Shares of DYN stock traded up $0.98 during mid-day trading on Friday, reaching $14.22. The stock had a trading volume of 2,418,958 shares, compared to its average volume of 2,326,192. The business's fifty day moving average is $10.79 and its 200-day moving average is $11.14. 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 firm has a market cap of $2.02 billion, a price-to-earnings ratio of -3.68 and a beta of 1.10. Dyne Therapeutics, Inc. has a 1-year low of $6.36 and a 1-year high of $37.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.97) earnings per share 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 year.

Insider Activity

In other Dyne Therapeutics news, CEO John Cox bought 100,000 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, July 14th. The stock was purchased at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the acquisition, the chief executive officer directly owned 242,179 shares in the company, valued at approximately $2,206,250.69. This trade represents a 70.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on DYN. Robert W. Baird decreased their price objective on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Chardan Capital decreased their target price on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Oppenheimer decreased their target price on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Jones Trading began coverage on shares of Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 target price for the company. Finally, Royal Bank Of Canada decreased their target price on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $34.07.

Dyne Therapeutics 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.