First Light Asset Management LLC Cuts Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

First Light Asset Management LLC lowered its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 66.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,431 shares of the company's stock after selling 836,854 shares during the period. Dyne Therapeutics makes up 0.9% of First Light Asset Management LLC's investment portfolio, making the stock its 28th largest position. First Light Asset Management LLC owned about 0.41% of Dyne Therapeutics worth $9,905,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Dyne Therapeutics by 162.2% during the 3rd quarter. Barclays PLC now owns 207,309 shares of the company's stock worth $7,446,000 after acquiring an additional 128,246 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Dyne Therapeutics by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company's stock worth $3,655,000 after purchasing an additional 4,236 shares during the last quarter. KBC Group NV increased its position in shares of Dyne Therapeutics by 45.3% during the 4th quarter. KBC Group NV now owns 3,135 shares of the company's stock valued at $74,000 after purchasing an additional 978 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Dyne Therapeutics by 11.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,575 shares of the company's stock valued at $508,000 after buying an additional 2,265 shares in the last quarter. Finally, abrdn plc bought a new stake in Dyne Therapeutics in the 4th quarter worth approximately $608,000. Institutional investors own 96.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price objective for the company. Piper Sandler cut their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Guggenheim reiterated a "buy" rating on shares of Dyne Therapeutics in a report on Friday, January 24th. BMO Capital Markets assumed coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $46.00 price target on shares of Dyne Therapeutics in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $47.46.

Insider Buying and Selling

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares of the company's stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 6,237 shares of company stock worth $77,760 in the last three months. 20.77% of the stock is owned by corporate insiders.

Dyne Therapeutics Stock Down 1.1 %

Shares of NASDAQ:DYN traded down $0.13 on Friday, hitting $11.86. The company had a trading volume of 1,040,609 shares, compared to its average volume of 1,557,560. The firm's 50-day simple moving average is $10.58 and its two-hundred day simple moving average is $18.98. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -3.33 and a beta of 1.21. Dyne Therapeutics, Inc. has a 1 year low of $6.36 and a 1 year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

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.