Dyne Therapeutics, Inc. $DYN Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. lowered its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 19.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 196,188 shares of the company’s stock after selling 47,088 shares during the period. SummitTX Capital L.P.’s holdings in Dyne Therapeutics were worth $3,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after buying an additional 14,727,667 shares during the period. Vanguard Group Inc. grew its holdings in Dyne Therapeutics by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock worth $219,376,000 after acquiring an additional 1,455,151 shares during the period. State Street Corp grew its holdings in Dyne Therapeutics by 27.0% during the fourth quarter. State Street Corp now owns 6,692,745 shares of the company’s stock worth $130,910,000 after acquiring an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Dyne Therapeutics by 45.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock valued at $101,164,000 after acquiring an additional 1,618,000 shares in the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in Dyne Therapeutics during the fourth quarter valued at approximately $93,926,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

Insider Buying and Selling at Dyne Therapeutics

In other news, Director Jason P. Rhodes sold 480,240 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.79, for a total value of $10,944,669.60. Following the sale, the director directly owned 875,912 shares of the company’s stock, valued at $19,962,034.48. The trade was a 35.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders purchased 9,000 shares of company stock valued at $156,800 and sold 1,665,542 shares valued at $36,321,576. 9.46% of the stock is currently owned by company insiders.

Dyne Therapeutics Stock Up 4.9%

DYN opened at $25.63 on Tuesday. Dyne Therapeutics, Inc. has a twelve month low of $8.88 and a twelve month high of $26.12. The company has a quick ratio of 19.92, a current ratio of 19.92 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $20.56 and a 200 day moving average price of $18.67. The company has a market cap of $4.78 billion, a PE ratio of -7.96 and a beta of 1.06.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.04. During the same period last year, the firm earned ($1.05) earnings per share. Sell-side analysts expect that Dyne Therapeutics, Inc. will post -3.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on DYN. Wall Street Zen raised Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, July 6th. Sanford C. Bernstein raised their price objective on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald initiated coverage on shares of Dyne Therapeutics in a report on Thursday. They set an “overweight” rating for the company. Evercore set a $33.00 target price on shares of Dyne Therapeutics in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

About Dyne Therapeutics

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.