Jennison Associates LLC Buys New Position in Dianthus Therapeutics, Inc. $DNTH

Key Points

• Jennison Associates LLC opened a new position in Dianthus Therapeutics during the first quarter, buying 485,136 shares worth about $40.7 million and owning roughly 0.89% of the company.
• The stock has seen strong institutional interest, with several large funds increasing stakes and institutions now holding 47.53% of shares outstanding.
• Analyst sentiment is mixed but mostly positive: the consensus rating is “Moderate Buy” with an average target price of $117.82, while the stock recently traded around $101 after a 4.4% decline.

Jennison Associates LLC purchased a new stake in Dianthus Therapeutics, Inc. (NASDAQ:DNTH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 485,136 shares of the company's stock, valued at approximately $40,713,000. Jennison Associates LLC owned approximately 0.89% of Dianthus Therapeutics as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Dianthus Therapeutics by 3,366.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,577,662 shares of the company's stock valued at $101,431,000 after purchasing an additional 2,503,311 shares in the last quarter. Vestal Point Capital LP raised its stake in Dianthus Therapeutics by 88.2% in the second quarter. Vestal Point Capital LP now owns 3,200,000 shares of the company's stock worth $59,616,000 after buying an additional 1,499,931 shares in the last quarter. State Street Corp raised its stake in Dianthus Therapeutics by 124.7% in the fourth quarter. State Street Corp now owns 1,507,619 shares of the company's stock worth $62,129,000 after buying an additional 836,571 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in Dianthus Therapeutics in the third quarter worth about $29,434,000. Finally, Marshall Wace LLP purchased a new stake in Dianthus Therapeutics in the third quarter worth about $22,545,000. 47.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DNTH has been the topic of a number of research analyst reports. TD Cowen reiterated a "buy" rating on shares of Dianthus Therapeutics in a report on Wednesday, June 10th. Guggenheim restated a "buy" rating on shares of Dianthus Therapeutics in a research note on Wednesday, June 10th. Wolfe Research restated an "outperform" rating on shares of Dianthus Therapeutics in a research report on Wednesday, June 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Dianthus Therapeutics in a report on Friday. Finally, Wedbush raised their price objective on Dianthus Therapeutics from $103.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Dianthus Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $117.82.

Dianthus Therapeutics Trading Down 4.4%

Shares of NASDAQ:DNTH opened at $101.00 on Tuesday. The stock has a fifty day simple moving average of $89.24 and a two-hundred day simple moving average of $74.40. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of -24.46 and a beta of 1.20. Dianthus Therapeutics, Inc. has a 12-month low of $18.08 and a 12-month high of $107.99.

Dianthus Therapeutics (NASDAQ:DNTH - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.22. Dianthus Therapeutics had a negative return on equity of 27.30% and a negative net margin of 12,998.50%.The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.40 million. As a group, equities research analysts predict that Dianthus Therapeutics, Inc. will post -3.82 EPS for the current year.

Insider Buying and Selling

In other news, EVP Ryan Savitz sold 31,249 shares of Dianthus Therapeutics stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $101.03, for a total transaction of $3,157,086.47. Following the transaction, the executive vice president owned 31,249 shares in the company, valued at $3,157,086.47. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Simrat Randhawa sold 26,530 shares of Dianthus Therapeutics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $90.62, for a total transaction of $2,404,148.60. Following the transaction, the executive vice president owned 4,000 shares in the company, valued at $362,480. This represents a 86.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 87,779 shares of company stock worth $7,985,235 in the last quarter. Corporate insiders own 3.02% of the company's stock.

Dianthus Therapeutics Company Profile

Dianthus Therapeutics, Inc, a clinical-stage biotechnology company, develops complement therapeutics for patients with severe autoimmune and inflammatory diseases. It is developing DNTH103, a monoclonal antibody, which is in Phase 2 clinical trial, for the treatment of generalized myasthenia gravis, multifocal motor neuropathy, and chronic inflammatory demyelinating polyneuropathy. Dianthus Therapeutics, Inc was founded in 2019 and is headquartered in New York, New York.

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