Brevan Howard Capital Management LP Acquires New Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Brevan Howard Capital Management LP bought a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 28,781 shares of the company’s stock, valued at approximately $678,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after buying an additional 128,246 shares during the period. JPMorgan Chase & Co. increased its position in shares of Dyne Therapeutics by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after purchasing an additional 4,236 shares during the last quarter. KBC Group NV increased its position in shares of Dyne Therapeutics by 45.3% in the 4th quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after purchasing an additional 978 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Dyne Therapeutics by 11.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,575 shares of the company’s stock valued at $508,000 after purchasing an additional 2,265 shares in the last quarter. Finally, abrdn plc purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth $608,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target on the stock. Chardan Capital reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Monday, March 17th. Scotiabank began coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.46.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now directly owns 199,087 shares in the company, valued at approximately $2,777,263.65. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,237 shares of company stock worth $77,760 over the last 90 days. Company insiders own 20.77% of the company’s stock.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $11.32 on Friday. The business has a 50 day simple moving average of $10.38 and a 200-day simple moving average of $18.32. Dyne Therapeutics, Inc. has a 12 month low of $6.36 and a 12 month high of $47.45. The stock has a market capitalization of $1.29 billion, a PE ratio of -3.18 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS 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.