The Manufacturers Life Insurance Company Purchases New Stake in Dyne Therapeutics, Inc. $DYN

The Manufacturers Life Insurance Company acquired a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 78,622 shares of the company’s stock, valued at approximately $1,746,000.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB purchased a new stake in shares of Dyne Therapeutics during the 2nd quarter worth approximately $1,182,000. Fisher Asset Management LLC purchased a new position in Dyne Therapeutics in the fourth quarter valued at approximately $4,891,000. Cibc World Market Inc. purchased a new position in Dyne Therapeutics in the fourth quarter valued at approximately $1,345,000. Royal Bank of Canada grew its holdings in Dyne Therapeutics by 267.6% during the first quarter. Royal Bank of Canada now owns 68,188 shares of the company’s stock valued at $1,236,000 after purchasing an additional 49,641 shares during the period. Finally, Clearbridge Investments LLC bought a new position in Dyne Therapeutics during the fourth quarter valued at $7,976,000. Institutional investors own 96.68% of the company’s stock.

Insider Buying and Selling

In related news, CFO Erick Lucera sold 2,362 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total transaction of $48,113.94. Following the sale, the chief financial officer owned 121,563 shares of the company’s stock, valued at approximately $2,476,238.31. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jason Rhodes sold 2,160,516 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 428,946 shares in the company, valued at $10,723,650. This represents a 83.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,139,196 shares of company stock worth $99,449,852 in the last ninety days. 9.46% of the stock is currently owned by insiders.

Dyne Therapeutics Stock Down 0.8%

Shares of NASDAQ DYN opened at $24.95 on Friday. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. The company has a market cap of $4.66 billion, a P/E ratio of -7.49 and a beta of 1.08. Dyne Therapeutics, Inc. has a 52 week low of $11.92 and a 52 week high of $27.31. The business has a 50-day simple moving average of $24.74 and a two-hundred day simple moving average of $20.33.

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

Analysts Set New Price Targets

Several analysts have issued reports on DYN shares. Royal Bank Of Canada boosted their target price on Dyne Therapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. TD Cowen initiated coverage on Dyne Therapeutics in a research note on Friday, June 26th. They set a “buy” rating for the company. Evercore set a $33.00 price objective on Dyne Therapeutics in a report on Friday, May 15th. Morgan Stanley dropped their price objective on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.