Northern Trust Corp Acquires 55,511 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Northern Trust Corp lifted its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 777,013 shares of the company's stock after acquiring an additional 55,511 shares during the quarter. Northern Trust Corp owned about 0.76% of Dyne Therapeutics worth $18,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Syon Capital LLC acquired a new position in shares of Dyne Therapeutics during the fourth quarter valued at approximately $399,000. Hsbc Holdings PLC increased its stake in shares of Dyne Therapeutics by 45.5% during the fourth quarter. Hsbc Holdings PLC now owns 13,354 shares of the company's stock valued at $316,000 after acquiring an additional 4,178 shares during the period. Rock Springs Capital Management LP increased its stake in shares of Dyne Therapeutics by 2.9% during the fourth quarter. Rock Springs Capital Management LP now owns 474,528 shares of the company's stock valued at $11,180,000 after acquiring an additional 13,500 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Dyne Therapeutics by 887.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,018 shares of the company's stock valued at $377,000 after acquiring an additional 14,396 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Dyne Therapeutics by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 49,467 shares of the company's stock valued at $1,165,000 after acquiring an additional 2,748 shares during the period. Institutional investors and hedge funds own 96.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Guggenheim restated a "buy" rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Chardan Capital restated a "buy" rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research report on Friday, May 9th. Scotiabank initiated coverage on shares of Dyne Therapeutics in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price target on the stock. Finally, HC Wainwright decreased their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.85.

Dyne Therapeutics Price Performance

NASDAQ DYN traded up $0.09 on Friday, hitting $11.83. 2,185,589 shares of the stock were exchanged, compared to its average volume of 1,677,802. Dyne Therapeutics, Inc. has a 52-week low of $6.36 and a 52-week high of $47.45. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.32 and a beta of 1.19. The company's 50-day moving average price is $10.36 and its two-hundred day moving average price is $17.51.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company's stock in a transaction dated 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 represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 6,237 shares of company stock valued at $77,760. Insiders own 14.14% of the company's stock.

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.