Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,157 shares of the company’s stock, valued at approximately $1,478,000.

A number of other hedge funds also recently modified their holdings of the business. RA Capital Management L.P. purchased a new stake in shares of Dyne Therapeutics during the 1st quarter worth about $140,666,000. Vanguard Group Inc. boosted its holdings in shares of Dyne Therapeutics by 47.7% during the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after buying an additional 1,110,629 shares during the period. Artal Group S.A. grew its position in shares of Dyne Therapeutics by 24.6% in the first quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after purchasing an additional 300,000 shares during the last quarter. Jennison Associates LLC increased its position in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after buying an additional 19,730 shares during the period. Finally, Federated Hermes Inc. increased its position in Dyne Therapeutics by 10.4% during the second quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock worth $42,881,000 after acquiring an additional 114,888 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, Director Carlo Incerti sold 16,500 shares of Dyne Therapeutics stock in a transaction on Monday, November 18th. The shares were sold at an average price of $28.73, for a total transaction of $474,045.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares in the company, valued at approximately $3,405,524.40. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,257 shares of company stock worth $6,193,718 over the last ninety days. 20.77% of the stock is currently owned by corporate insiders.

Dyne Therapeutics Stock Down 0.7 %

Shares of NASDAQ:DYN opened at $29.23 on Wednesday. The company’s fifty day simple moving average is $32.06 and its 200 day simple moving average is $35.40. Dyne Therapeutics, Inc. has a 12 month low of $10.12 and a 12 month high of $47.45. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -8.21 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Research analysts expect that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada initiated coverage on Dyne Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $45.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Morgan Stanley increased their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Guggenheim lifted their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.82.

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.