Connor Clark & Lunn Investment Management Ltd. Invests $1.48 Million in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 41,157 shares of the company's stock, valued at approximately $1,478,000.

A number of other large investors also recently bought and sold shares of the business. Seven Eight Capital LP grew its stake in shares of Dyne Therapeutics by 195.7% in 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 last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Dyne Therapeutics during the 3rd quarter valued at about $1,588,000. Jennison Associates LLC increased its stake in Dyne Therapeutics by 1.5% during the 3rd 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 in the last quarter. Mutual of America Capital Management LLC purchased a new position in Dyne Therapeutics in the second quarter worth about $1,724,000. Finally, Vanguard Group Inc. lifted 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 worth $97,669,000 after buying an additional 1,110,629 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Performance

Shares of Dyne Therapeutics stock traded up $1.90 on Wednesday, hitting $31.13. 1,410,420 shares of the company's stock were exchanged, compared to its average volume of 1,477,551. Dyne Therapeutics, Inc. has a 1 year low of $10.12 and a 1 year high of $47.45. The company has a 50-day simple moving average of $31.95 and a 200-day simple moving average of $35.42. The stock has a market capitalization of $3.17 billion, a PE ratio of -8.15 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, analysts expect that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carlo Incerti sold 16,500 shares of the business'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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares of the company's stock, valued at approximately $8,533,929.15. This trade represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,257 shares of company stock worth $6,193,718. Company insiders own 20.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Royal Bank of Canada initiated coverage on Dyne Therapeutics in a research note on Tuesday. They issued an "outperform" rating and a $45.00 price target for the company. JPMorgan Chase & Co. cut Dyne Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Guggenheim lifted their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Oppenheimer restated an "outperform" rating and set a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.82.

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.