Invesco Ltd. Raises Holdings in Dyne Therapeutics, Inc. $DYN

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. raised its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 64.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,293 shares of the company's stock after acquiring an additional 25,970 shares during the quarter. Invesco Ltd. owned approximately 0.06% of Dyne Therapeutics worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DYN. China Universal Asset Management Co. Ltd. increased its stake in Dyne Therapeutics by 5.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company's stock worth $237,000 after buying an additional 1,115 shares during the period. Arizona State Retirement System grew its stake in Dyne Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock worth $183,000 after acquiring an additional 1,481 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Dyne Therapeutics during the fourth quarter worth approximately $50,000. GAMMA Investing LLC increased its position in shares of Dyne Therapeutics by 837.5% during the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock worth $251,000 after acquiring an additional 2,345 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in shares of Dyne Therapeutics by 1.5% during the fourth quarter. Rafferty Asset Management LLC now owns 167,482 shares of the company's stock valued at $3,946,000 after acquiring an additional 2,520 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Up 0.2%

DYN traded up $0.03 on Wednesday, hitting $13.28. The company had a trading volume of 2,122,312 shares, compared to its average volume of 2,252,251. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -3.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.83 and a current ratio of 16.83. The stock has a fifty day moving average price of $11.04 and a 200-day moving average price of $11.15. 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 released its quarterly earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.02. Analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI reissued an "outperform" rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. Raymond James Financial raised Dyne Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $31.00 to $35.00 in a research report on Monday, August 25th. Stifel Nicolaus decreased their price objective on Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Oppenheimer cut their target price on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $34.07.

Insider Buying and Selling

In other Dyne Therapeutics news, CEO John Cox sold 2,640 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $13.41, for a total value of $35,402.40. Following the completion of the sale, the chief executive officer directly owned 199,539 shares in the company, valued at $2,675,817.99. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.14% of the stock is owned by insiders.

Dyne Therapeutics Company 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.