Deep Track Capital LP Has $47.12 Million Stock Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Deep Track Capital LP lessened its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,000,000 shares of the company’s stock after selling 1,282,000 shares during the period. Dyne Therapeutics comprises 1.8% of Deep Track Capital LP’s investment portfolio, making the stock its 18th largest holding. Deep Track Capital LP owned about 1.97% of Dyne Therapeutics worth $47,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of DYN. Barclays PLC grew its holdings in shares of Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after buying an additional 128,246 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Dyne Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after acquiring an additional 4,236 shares in the last quarter. KBC Group NV increased its holdings in shares of Dyne Therapeutics by 45.3% in 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 period. China Universal Asset Management Co. Ltd. lifted its position in shares of Dyne Therapeutics by 11.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,575 shares of the company’s stock worth $508,000 after purchasing an additional 2,265 shares in the last quarter. Finally, abrdn plc acquired a new stake in shares of Dyne Therapeutics during the fourth quarter worth approximately $608,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DYN shares. JPMorgan Chase & Co. dropped their price objective on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Chardan Capital reaffirmed a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Monday, March 17th. Guggenheim reissued a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Piper Sandler dropped their target price on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.46.

Insiders Place Their Bets

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 stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares in the company, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,237 shares of company stock worth $77,760 in the last ninety days. Insiders own 20.77% of the company’s stock.

Dyne Therapeutics Price Performance

Shares of DYN opened at $10.07 on Wednesday. Dyne Therapeutics, Inc. has a one year low of $6.36 and a one year high of $47.45. The company’s fifty day moving average price is $10.48 and its 200 day moving average price is $18.53. The company has a market capitalization of $1.14 billion, a PE ratio of -2.83 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results 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. Analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

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.