Dyne Therapeutics, Inc. $DYN Shares Purchased by Sofinnova Investments Inc.

Sofinnova Investments Inc. grew its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 128.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,254,161 shares of the company’s stock after acquiring an additional 1,268,333 shares during the quarter. Dyne Therapeutics comprises approximately 1.8% of Sofinnova Investments Inc.’s investment portfolio, making the stock its 15th largest holding. Sofinnova Investments Inc. owned about 1.58% of Dyne Therapeutics worth $44,091,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DYN. Strs Ohio purchased a new stake in Dyne Therapeutics in the fourth quarter valued at approximately $51,000. Steward Partners Investment Advisory LLC boosted its position in Dyne Therapeutics by 102.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock worth $95,000 after purchasing an additional 2,465 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Dyne Therapeutics by 275.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company’s stock valued at $100,000 after buying an additional 7,697 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Dyne Therapeutics during the 2nd quarter valued at approximately $111,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Dyne Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,940 shares of the company’s stock valued at $136,000 after buying an additional 1,440 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DYN. Chardan Capital reissued a “buy” rating and issued a $38.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research note on Monday, March 9th. Wall Street Zen raised Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Morgan Stanley cut their price objective on Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Finally, Evercore set a $33.00 target price on Dyne Therapeutics in a research report on Friday, May 15th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Dyne Therapeutics Price Performance

DYN stock opened at $18.73 on Tuesday. The business has a 50 day moving average price of $18.27 and a 200 day moving average price of $18.14. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -5.82 and a beta of 1.09. Dyne Therapeutics, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $25.00. The company has a quick ratio of 19.92, a current ratio of 19.92 and a debt-to-equity ratio of 0.17.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.04. During the same period in the previous year, the firm posted ($1.05) EPS. Equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, insider Douglas Kerr sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $18.36, for a total value of $28,715.04. Following the completion of the sale, the insider owned 170,042 shares in the company, valued at approximately $3,121,971.12. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 83,219 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $18.18, for a total value of $1,512,921.42. Following the completion of the sale, the director owned 7,962 shares of the company’s stock, valued at approximately $144,749.16. This represents a 91.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have bought 9,000 shares of company stock valued at $156,800 and have sold 1,559,462 shares valued at $29,814,746. Corporate insiders own 9.46% of the company’s stock.

Dyne Therapeutics Company Profile

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.