Voya Investment Management LLC Sells 200,017 Shares of Dyne Therapeutics, Inc. $DYN

Key Points

• Voya Investment Management LLC significantly reduced its stake in Dyne Therapeutics by 80.1%, selling 200,017 shares and now holds 49,786 shares worth approximately $521,000.
• Several other institutional investors increased their investments in Dyne Therapeutics, with Caitong International boosting its position by 378.6%, now owning 3,092 shares valued at $32,000.
• Dyne Therapeutics stock rose 4.5% and currently trades at $13.15, with analysts maintaining an overall consensus rating of "Buy" and an average price target of $34.07.

Voya Investment Management LLC cut its position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 80.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,786 shares of the company's stock after selling 200,017 shares during the quarter. Voya Investment Management LLC's holdings in Dyne Therapeutics were worth $521,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after purchasing an additional 2,446 shares in the last quarter. Quarry LP bought a new stake in shares of Dyne Therapeutics during the 1st quarter worth $47,000. E Fund Management Co. Ltd. boosted its stake in Dyne Therapeutics by 16.2% in the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock valued at $144,000 after buying an additional 1,923 shares in the last quarter. Optimize Financial Inc bought a new position in Dyne Therapeutics in the first quarter valued at about $154,000. Finally, Caxton Associates LLP acquired a new position in Dyne Therapeutics during the first quarter worth about $157,000. Institutional investors and hedge funds own 96.68% of the company's stock.

Insider Activity at Dyne Therapeutics

In related news, CEO John Cox sold 2,640 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $13.41, for a total transaction of $35,402.40. Following the sale, the chief executive officer owned 199,539 shares in the company, valued at $2,675,817.99. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.14% of the stock is currently owned by insiders.

Dyne Therapeutics Stock Up 4.5%

Dyne Therapeutics stock opened at $13.15 on Friday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -3.41 and a beta of 1.10. Dyne Therapeutics, Inc. has a 52-week low of $6.36 and a 52-week high of $36.09. 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 50 day moving average price of $12.08 and a two-hundred day moving average price of $11.19.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. Equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DYN. Jones Trading started coverage on shares of Dyne Therapeutics in a report on Thursday, June 26th. They set a "buy" rating and a $30.00 price target on the stock. Chardan Capital lowered their price target on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Sanford C. Bernstein assumed coverage on Dyne Therapeutics in a report on Tuesday, June 24th. They issued a "market perform" rating and a $13.00 target price for the company. Raymond James Financial raised Dyne Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $31.00 to $35.00 in a research note on Monday, August 25th. Finally, Oppenheimer dropped their price objective on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Dyne Therapeutics has a consensus rating of "Buy" and an average price target of $34.07.

About Dyne Therapeutics

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.

Want to see what other hedge funds are holding DYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.