BlackRock Inc. Takes Position in Dyne Therapeutics, Inc. $DYN

BlackRock Inc. purchased a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 12,404,330 shares of the company’s stock, valued at approximately $275,500,000. BlackRock Inc. owned about 0.07% of Dyne Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in Dyne Therapeutics in the second quarter valued at approximately $5,384,000. Persistent Asset Partners Ltd acquired a new position in shares of Dyne Therapeutics during the second quarter worth $124,000. Flputnam Investment Management Co. acquired a new position in shares of Dyne Therapeutics during the second quarter worth $1,177,000. Bank of New York Mellon Corp purchased a new position in shares of Dyne Therapeutics in the second quarter valued at $9,102,000. Finally, Handelsbanken Fonder AB acquired a new stake in Dyne Therapeutics during the 2nd quarter valued at $1,182,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Jason P. Rhodes sold 2,160,516 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares in the company, valued at $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian S. Posner acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $17.48 per share, with a total value of $43,700.00. Following the acquisition, the director owned 22,500 shares of the company’s stock, valued at $393,300. This trade represents a 12.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 4,139,196 shares of company stock worth $99,449,852. 9.46% of the stock is currently owned by company insiders.

Dyne Therapeutics Stock Performance

Shares of Dyne Therapeutics stock opened at $26.36 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. Dyne Therapeutics, Inc. has a 1 year low of $11.92 and a 1 year high of $27.31. The firm’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $19.96. The firm has a market cap of $4.92 billion, a PE ratio of -7.92 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). Equities analysts forecast that Dyne Therapeutics, Inc. will post -3.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DYN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Royal Bank Of Canada lifted their target price on Dyne Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Evercore set a $33.00 price target on Dyne Therapeutics in a research note on Friday, May 15th. Finally, Morgan Stanley reduced their price target on Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.42.

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.