950,104 Shares in Dyne Therapeutics, Inc. (NASDAQ:DYN) Acquired by Norges Bank

Norges Bank bought a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 950,104 shares of the company's stock, valued at approximately $22,384,000. Norges Bank owned about 0.93% of Dyne Therapeutics at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Dyne Therapeutics in the 3rd quarter valued at about $34,000. Point72 DIFC Ltd bought a new stake in shares of Dyne Therapeutics in the third quarter valued at approximately $36,000. KBC Group NV grew its position 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 buying an additional 978 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Dyne Therapeutics during the 4th quarter worth $257,000. Finally, Magnetar Financial LLC acquired a new position in Dyne Therapeutics in the 4th quarter valued at $263,000. Institutional investors own 96.68% of the company's stock.

Dyne Therapeutics Stock Up 0.9 %

Shares of DYN stock traded up $0.06 during mid-day trading on Friday, reaching $7.04. 1,349,052 shares of the stock traded hands, compared to its average volume of 1,469,917. The stock's fifty day simple moving average is $11.86 and its two-hundred day simple moving average is $21.34. Dyne Therapeutics, Inc. has a 1-year low of $6.36 and a 1-year high of $47.45. The company has a market cap of $796.37 million, a price-to-earnings ratio of -1.98 and a beta of 1.21.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.04. On average, equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the sale, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,237 shares of company stock valued at $77,760 over the last 90 days. 20.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Baird R W upgraded Dyne Therapeutics to a "strong-buy" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of Dyne Therapeutics from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Chardan Capital reaffirmed a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Monday, March 17th. HC Wainwright reissued a "buy" rating and issued a $46.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Finally, Guggenheim restated a "buy" rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dyne Therapeutics has an average rating of "Moderate Buy" and an average price target of $47.46.

Dyne Therapeutics 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.