Dyne Therapeutics, Inc. $DYN Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in Dyne Therapeutics by 12.0% by selling 20,129 shares, now owning 147,353 shares valued at $1,541,000.
• Analysts have mixed views on Dyne Therapeutics with varying price targets, including a reduction from $25.00 to $23.00 by Royal Bank Of Canada, and a strong-buy upgrade with a target of $35.00 by Raymond James.
• CEO John Cox made a significant purchase of 100,000 shares at $9.11 per share, increasing his ownership by 70.33% to a total of 242,179 shares.

Rafferty Asset Management LLC lowered its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,353 shares of the company's stock after selling 20,129 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.13% of Dyne Therapeutics worth $1,541,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DYN. Hsbc Holdings PLC lifted its stake in Dyne Therapeutics by 45.5% in the fourth quarter. Hsbc Holdings PLC now owns 13,354 shares of the company's stock worth $316,000 after acquiring an additional 4,178 shares during the last quarter. Northern Trust Corp lifted its stake in Dyne Therapeutics by 7.7% in the fourth quarter. Northern Trust Corp now owns 777,013 shares of the company's stock worth $18,306,000 after acquiring an additional 55,511 shares during the last quarter. Comerica Bank lifted its stake in Dyne Therapeutics by 20,133.7% in the fourth quarter. Comerica Bank now owns 35,409 shares of the company's stock worth $834,000 after acquiring an additional 35,234 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Dyne Therapeutics by 3.2% in the fourth quarter. Ameriprise Financial Inc. now owns 219,635 shares of the company's stock worth $5,175,000 after acquiring an additional 6,735 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $1,578,000. Hedge funds and other institutional investors own 96.68% of the company's stock.

Dyne Therapeutics Stock Performance

DYN traded up $0.94 during trading on Friday, hitting $14.18. The stock had a trading volume of 1,846,085 shares, compared to its average volume of 2,627,618. 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 firm has a market capitalization of $2.02 billion, a P/E ratio of -3.69 and a beta of 1.10. The company's 50-day moving average price is $10.70 and its 200 day moving average price is $11.16. Dyne Therapeutics, Inc. has a twelve month low of $6.36 and a twelve month high of $37.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results 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, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In related news, CEO John Cox purchased 100,000 shares of the stock in a transaction dated Monday, July 14th. The shares were acquired at an average cost of $9.11 per share, with a total value of $911,000.00. Following the purchase, the chief executive officer directly owned 242,179 shares in the company, valued at $2,206,250.69. This trade represents a 70.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 14.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI restated an "outperform" rating on shares of Dyne Therapeutics in a research report on Friday, July 11th. Chardan Capital reduced their price objective 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. Sanford C. Bernstein started coverage on shares of Dyne Therapeutics in a research report on Tuesday, June 24th. They set a "market perform" rating and a $13.00 price objective for the company. Stifel Nicolaus cut their price target on Dyne Therapeutics from $66.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Robert W. Baird cut their price target on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $34.07.

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.