Sphera Funds Management LTD. Purchases 179,758 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Sphera Funds Management LTD. lifted its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 318.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,262 shares of the company's stock after purchasing an additional 179,758 shares during the period. Sphera Funds Management LTD. owned 0.23% of Dyne Therapeutics worth $5,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. abrdn plc bought a new position in Dyne Therapeutics in the fourth quarter valued at approximately $608,000. Raymond James Financial Inc. bought a new position in Dyne Therapeutics in the fourth quarter valued at approximately $2,340,000. Barclays PLC boosted its stake in Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company's stock valued at $7,446,000 after acquiring an additional 128,246 shares during the last quarter. Schroder Investment Management Group boosted its stake in Dyne Therapeutics by 63.3% in the fourth quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock valued at $3,477,000 after acquiring an additional 56,961 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Dyne Therapeutics by 54.5% in the fourth quarter. Wells Fargo & Company MN now owns 38,754 shares of the company's stock valued at $913,000 after acquiring an additional 13,677 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DYN shares. Piper Sandler reduced 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. BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. cut 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 reiterated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Friday, May 9th. Finally, 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 target price on the stock. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.85.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 6,237 shares of company stock valued at $77,760 over the last quarter. Corporate insiders own 14.14% of the company's stock.

Dyne Therapeutics Trading Down 1.4%

Shares of DYN stock traded down $0.17 during trading hours on Monday, hitting $11.66. 1,581,459 shares of the company were exchanged, compared to its average volume of 1,678,854. The business has a 50 day moving average of $10.35 and a two-hundred day moving average of $17.23. 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 $1.33 billion, a PE ratio of -3.28 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.17). On average, research analysts forecast 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.