Adage Capital Partners GP L.L.C. Reduces Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Adage Capital Partners GP L.L.C. cut its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,950,000 shares of the company's stock after selling 452,972 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 1.92% of Dyne Therapeutics worth $45,942,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Dyne Therapeutics in the 4th quarter valued at about $22,384,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Dyne Therapeutics in the fourth quarter valued at approximately $3,091,000. Barclays PLC raised its holdings in Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company's stock worth $7,446,000 after purchasing an additional 128,246 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $2,340,000. Finally, Trexquant Investment LP boosted its holdings in shares of Dyne Therapeutics by 95.6% in the 4th quarter. Trexquant Investment LP now owns 125,378 shares of the company's stock valued at $2,954,000 after buying an additional 61,288 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company's stock.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock traded down $0.05 during trading hours on Friday, reaching $11.06. 1,568,408 shares of the stock were exchanged, compared to its average volume of 1,535,397. Dyne Therapeutics, Inc. has a 52-week low of $6.36 and a 52-week high of $47.45. The stock has a market cap of $1.26 billion, a P/E ratio of -3.11 and a beta of 1.21. The firm's 50 day moving average is $10.79 and its 200 day moving average is $19.54.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. Equities research analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares in the company, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 6,237 shares of company stock valued at $77,760 in the last three months. 20.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on DYN shares. JPMorgan Chase & Co. cut their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. BMO Capital Markets assumed coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price for the company. Chardan Capital restated a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research note on Monday, March 17th. Guggenheim reiterated a "buy" rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Finally, Piper Sandler decreased their price objective on Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.46.

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.