Fmr LLC Has $324.24 Million Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

FMR LLC lifted its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 69.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,026,697 shares of the company's stock after acquiring an additional 3,707,734 shares during the period. FMR LLC owned 8.99% of Dyne Therapeutics worth $324,239,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DYN. Seven Eight Capital LP increased its position in Dyne Therapeutics by 195.7% in the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company's stock valued at $1,896,000 after acquiring an additional 35,568 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Dyne Therapeutics during the third quarter valued at $1,588,000. Jennison Associates LLC raised its stake in shares of Dyne Therapeutics by 1.5% during 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 in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Dyne Therapeutics during the second quarter valued at about $1,724,000. Finally, Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 1,110,629 shares during the period. Institutional investors own 96.68% of the company's stock.

Analysts Set New Price Targets

DYN has been the topic of several research analyst reports. Royal Bank of Canada began coverage on shares of Dyne Therapeutics in a research note on Tuesday, November 26th. They set an "outperform" rating and a $45.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and set a $53.00 price objective on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Guggenheim upped their target price on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Finally, HC Wainwright reissued a "buy" rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. One equities research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.82.

Dyne Therapeutics Trading Down 1.7 %

Shares of NASDAQ DYN traded down $0.52 during mid-day trading on Friday, reaching $30.61. The company had a trading volume of 469,452 shares, compared to its average volume of 1,129,286. 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 $3.12 billion, a PE ratio of -8.60 and a beta of 1.10. The company has a 50-day moving average price of $31.66 and a two-hundred day moving average price of $35.44.

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

Insider Activity

In related news, CEO John Cox acquired 32,000 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. This represents a -133.33 % increase in their ownership of the stock. The acquisition 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 business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the transaction, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. This 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.

Dyne Therapeutics 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.