Janus Henderson Group PLC Raises Stock Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Janus Henderson Group PLC lifted its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 47.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,813,163 shares of the company's stock after purchasing an additional 2,189,339 shares during the period. Janus Henderson Group PLC owned 6.70% of Dyne Therapeutics worth $244,755,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new stake in shares of Dyne Therapeutics during the third quarter worth about $1,588,000. Seven Eight Capital LP lifted its holdings in 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 buying an additional 35,568 shares during the period. Jennison Associates LLC lifted its holdings in Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company's stock worth $48,383,000 after buying an additional 19,730 shares during the period. Mutual of America Capital Management LLC purchased a new stake in Dyne Therapeutics in the second quarter worth about $1,724,000. Finally, Victory Capital Management Inc. purchased a new stake in Dyne Therapeutics in the second quarter worth about $676,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Performance

Shares of DYN traded up $1.27 during midday trading on Wednesday, hitting $29.44. 814,842 shares of the company traded hands, compared to its average volume of 1,466,951. The firm has a 50 day moving average of $31.45 and a 200-day moving average of $35.49. Dyne Therapeutics, Inc. has a 52 week low of $10.33 and a 52 week high of $47.45. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -7.91 and a beta of 1.09.

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

Insider Activity

In other news, Director Carlo Incerti sold 16,500 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $28.73, for a total transaction of $474,045.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Susanna Gatti High sold 8,976 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.41, for a total transaction of $308,864.16. Following the transaction, the chief operating officer now directly owns 131,636 shares in the company, valued at approximately $4,529,594.76. This trade represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,257 shares of company stock worth $6,193,718. 20.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on DYN. Oppenheimer reissued an "outperform" rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Piper Sandler restated an "overweight" rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. Stifel Nicolaus boosted their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Morgan Stanley boosted their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Dyne Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.82.

About Dyne Therapeutics

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.