Point72 Asset Management L.P. Grows Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Point72 Asset Management L.P. raised its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 802.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,681 shares of the company's stock after buying an additional 822,201 shares during the period. Point72 Asset Management L.P. owned about 0.91% of Dyne Therapeutics worth $21,785,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DYN. KBC Group NV lifted its stake in Dyne Therapeutics by 45.3% during the fourth quarter. KBC Group NV now owns 3,135 shares of the company's stock worth $74,000 after purchasing an additional 978 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Dyne Therapeutics by 9.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company's stock worth $203,000 after buying an additional 721 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Dyne Therapeutics in the 4th quarter valued at $257,000. Magnetar Financial LLC purchased a new position in shares of Dyne Therapeutics in the 4th quarter valued at $263,000. Finally, E Fund Management Co. Ltd. grew its position in shares of Dyne Therapeutics by 11.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 11,848 shares of the company's stock valued at $279,000 after buying an additional 1,249 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price objective for the company. Guggenheim reissued a "buy" rating on shares of Dyne Therapeutics in a report on Friday, January 24th. BMO Capital Markets started coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target on the stock. Chardan Capital reaffirmed a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Friday, May 9th. Finally, HC Wainwright decreased their price objective on Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.25.

Dyne Therapeutics Stock Down 1.9%

Shares of Dyne Therapeutics stock traded down $0.23 on Friday, hitting $11.67. The company's stock had a trading volume of 262,800 shares, compared to its average volume of 2,403,868. Dyne Therapeutics, Inc. has a 52-week low of $6.36 and a 52-week high of $47.45. The firm has a fifty day moving average price of $10.34 and a 200-day moving average price of $17.04. The company has a market capitalization of $1.33 billion, a P/E ratio of -3.28 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

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.