Franklin Resources Inc. Trims Holdings in Dyne Therapeutics, Inc. $DYN

Franklin Resources Inc. reduced its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,390,140 shares of the company’s stock after selling 24,695 shares during the period. Franklin Resources Inc.’s holdings in Dyne Therapeutics were worth $13,234,000 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 company. CWM LLC lifted its stake in shares of Dyne Therapeutics by 168.1% during the second quarter. CWM LLC now owns 3,030 shares of the company’s stock valued at $29,000 after buying an additional 1,900 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock worth $32,000 after acquiring an additional 2,446 shares during the period. Quarry LP acquired a new position in Dyne Therapeutics in the 1st quarter valued at $47,000. Bryce Point Capital LLC purchased a new position in shares of Dyne Therapeutics during the 2nd quarter worth $115,000. Finally, Creative Planning boosted its holdings in shares of Dyne Therapeutics by 23.8% during the second quarter. Creative Planning now owns 14,541 shares of the company’s stock worth $138,000 after purchasing an additional 2,797 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dyne Therapeutics

In related news, CEO John Cox sold 2,640 shares of Dyne Therapeutics stock in a transaction on Friday, September 5th. The shares were sold at an average price of $13.41, for a total transaction of $35,402.40. Following the transaction, the chief executive officer owned 199,539 shares in the company, valued at approximately $2,675,817.99. The trade was a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 20.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI reiterated an “outperform” rating and issued a $38.00 target price on shares of Dyne Therapeutics in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Wednesday, October 8th. Oppenheimer cut their price objective on shares of Dyne Therapeutics from $13.00 to $11.00 and set a “market perform” rating on the stock in a report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their target price on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Finally, Raymond James Financial raised shares of Dyne Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $31.00 to $35.00 in a research report on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $35.47.

Dyne Therapeutics Stock Up 3.5%

Shares of NASDAQ:DYN opened at $21.92 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.83 and a current ratio of 16.83. Dyne Therapeutics, Inc. has a 1 year low of $6.36 and a 1 year high of $31.29. The stock has a market capitalization of $3.13 billion, a P/E ratio of -5.68 and a beta of 1.16. The stock has a 50-day simple moving average of $17.73 and a 200-day simple moving average of $13.70.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.05. Equities analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share 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.