HighVista Strategies LLC Makes New $2.35 Million Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

HighVista Strategies LLC acquired a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 65,482 shares of the company's stock, valued at approximately $2,352,000. HighVista Strategies LLC owned about 0.06% of Dyne Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dyne Therapeutics during the 3rd quarter worth about $1,588,000. Seven Eight Capital LP boosted its holdings in shares of Dyne Therapeutics by 195.7% during the second quarter. Seven Eight Capital LP now owns 53,739 shares of the company's stock worth $1,896,000 after acquiring an additional 35,568 shares during the period. Jennison Associates LLC grew its position in shares of Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company's stock valued at $48,383,000 after purchasing an additional 19,730 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Dyne Therapeutics in the 2nd quarter valued at $1,724,000. Finally, Vanguard Group Inc. boosted its stake in shares of Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company's stock valued at $97,669,000 after buying an additional 1,110,629 shares during the period. 96.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DYN shares. Guggenheim upped their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Piper Sandler restated an "overweight" rating and set a $53.00 price objective on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Morgan Stanley lifted their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. Royal Bank of Canada started coverage on Dyne Therapeutics in a research note on Tuesday, November 26th. They set an "outperform" rating and a $45.00 price target on the stock. Finally, Oppenheimer reiterated an "outperform" rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.82.

Insider Buying and Selling at Dyne Therapeutics

In related news, Director Carlo Incerti sold 16,500 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Cox purchased 32,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. The trade was a -133.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 176,257 shares of company stock valued at $6,193,718 in the last 90 days. 20.77% of the stock is currently owned by company insiders.

Dyne Therapeutics Stock Down 3.8 %

DYN stock traded down $1.11 during midday trading on Tuesday, hitting $28.17. The company's stock had a trading volume of 806,100 shares, compared to its average volume of 1,468,080. Dyne Therapeutics, Inc. has a 1 year low of $10.33 and a 1 year high of $47.45. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -8.14 and a beta of 1.09. The stock's 50-day moving average price is $31.56 and its 200 day moving average price is $35.48.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.25). As a group, equities analysts forecast that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

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.