Eventide Asset Management LLC Sells 152,723 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Eventide Asset Management LLC trimmed its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 31.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332,277 shares of the company's stock after selling 152,723 shares during the period. Eventide Asset Management LLC owned about 0.33% of Dyne Therapeutics worth $11,935,000 as of its most recent SEC filing.

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

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN traded down $0.52 on Friday, reaching $30.61. 469,452 shares of the company traded hands, compared to its average volume of 1,475,934. The stock has a market capitalization of $3.12 billion, a PE ratio of -8.60 and a beta of 1.10. The company's 50 day moving average is $31.66 and its 200-day moving average is $35.39. Dyne Therapeutics, Inc. has a fifty-two week low of $10.33 and a fifty-two week high of $47.45.

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 the consensus estimate of ($0.71) by ($0.25). As a group, analysts expect that Dyne Therapeutics, Inc. will post -3.45 EPS for the current year.

Insider Activity

In related news, CEO John Cox bought 32,000 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $33.04 per share, for a total transaction 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. This represents a -133.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kersten sold 79,411 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares in the company, valued at $8,533,929.15. This trade represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,257 shares of company stock worth $6,193,718. 20.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DYN shares. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $43.00 to $35.00 in a research note on Thursday, October 24th. Guggenheim raised their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a 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 note on Monday, September 23rd. HC Wainwright reiterated a "buy" rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.