Jennison Associates LLC Takes $2.70 Million Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Jennison Associates LLC purchased a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 202,871 shares of the company’s stock, valued at approximately $2,698,000. Jennison Associates LLC owned approximately 0.33% of Dyne Therapeutics at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dyne Therapeutics by 58.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after purchasing an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dyne Therapeutics by 95.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock worth $83,000 after buying an additional 4,552 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Dyne Therapeutics by 355.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock valued at $94,000 after buying an additional 5,541 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Dyne Therapeutics by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 15,229 shares of the company’s stock worth $136,000 after acquiring an additional 1,476 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Dyne Therapeutics during the 4th quarter worth $172,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $24.73 on Friday. The firm has a market capitalization of $2.13 billion, a PE ratio of -6.28 and a beta of 0.95. Dyne Therapeutics, Inc. has a 1 year low of $6.40 and a 1 year high of $30.27. The firm’s 50-day moving average is $26.07 and its two-hundred day moving average is $17.70.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.17). Analysts expect that Dyne Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, Director Jason P. Rhodes sold 248,219 shares of Dyne Therapeutics stock in a transaction on Monday, February 26th. The stock was sold at an average price of $23.72, for a total value of $5,887,754.68. Following the completion of the transaction, the director now directly owns 903,527 shares in the company, valued at $21,431,660.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jason P. Rhodes sold 248,219 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $23.72, for a total value of $5,887,754.68. Following the completion of the transaction, the director now owns 903,527 shares in the company, valued at $21,431,660.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Venture Fund Xi L.P. Atlas sold 201,095 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $23.72, for a total transaction of $4,769,973.40. Following the completion of the sale, the insider now directly owns 6,151,467 shares in the company, valued at $145,912,797.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,875,432 shares of company stock valued at $44,368,530. 20.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DYN. Stifel Nicolaus raised their price objective on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Raymond James raised their price target on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, March 26th. Piper Sandler raised their target price on Dyne Therapeutics from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Chardan Capital increased their price target on Dyne Therapeutics from $20.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.43.

Dyne Therapeutics Company Profile

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.