Point72 Asset Management L.P. Acquires 822,201 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Point72 Asset Management L.P. grew its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 802.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,681 shares of the company’s stock after acquiring an additional 822,201 shares during the period. Point72 Asset Management L.P.’s holdings in Dyne Therapeutics were worth $21,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in Dyne Therapeutics by 32.4% in the 4th quarter. ProShare Advisors LLC now owns 28,044 shares of the company’s stock worth $661,000 after purchasing an additional 6,862 shares in the last quarter. Man Group plc raised its position in shares of Dyne Therapeutics by 3.9% during the fourth quarter. Man Group plc now owns 746,463 shares of the company’s stock valued at $17,587,000 after buying an additional 27,813 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Dyne Therapeutics by 73.2% in the fourth quarter. Orbimed Advisors LLC now owns 1,227,080 shares of the company’s stock worth $28,910,000 after buying an additional 518,680 shares in the last quarter. Octagon Capital Advisors LP lifted its holdings in shares of Dyne Therapeutics by 154.3% in the fourth quarter. Octagon Capital Advisors LP now owns 668,000 shares of the company’s stock worth $15,738,000 after buying an additional 405,274 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Dyne Therapeutics by 526.5% during the fourth quarter. Millennium Management LLC now owns 37,536 shares of the company’s stock worth $884,000 after acquiring an additional 31,545 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $11.83 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.32 and a beta of 1.19. The stock’s fifty day moving average is $10.36 and its 200 day moving average is $17.43. Dyne Therapeutics, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Equities analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 6,237 shares of company stock valued at $77,760. Company insiders own 14.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on DYN shares. Piper Sandler decreased their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Chardan Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research report on Friday, May 9th. BMO Capital Markets started coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.85.

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.