Fmr LLC Sells 1,029,766 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

FMR LLC lessened its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,996,931 shares of the company's stock after selling 1,029,766 shares during the quarter. FMR LLC owned approximately 7.86% of Dyne Therapeutics worth $188,408,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Dyne Therapeutics in the 4th quarter worth approximately $3,091,000. Wells Fargo & Company MN boosted its holdings in shares of Dyne Therapeutics by 54.5% during the fourth quarter. Wells Fargo & Company MN now owns 38,754 shares of the company's stock valued at $913,000 after acquiring an additional 13,677 shares during the period. Trexquant Investment LP grew its position in shares of Dyne Therapeutics by 95.6% during the fourth quarter. Trexquant Investment LP now owns 125,378 shares of the company's stock worth $2,954,000 after acquiring an additional 61,288 shares during the last quarter. Geode Capital Management LLC lifted its position in Dyne Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,887,329 shares of the company's stock valued at $44,476,000 after purchasing an additional 27,916 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Dyne Therapeutics by 63.3% in the 4th quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock valued at $3,477,000 after purchasing an additional 56,961 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company's stock.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, the insider now directly owns 199,087 shares in the company, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DYN shares. BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on Dyne Therapeutics from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Chardan Capital reiterated a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Monday, March 17th. Finally, Guggenheim reissued a "buy" rating on shares of Dyne Therapeutics in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Dyne Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $47.46.

Dyne Therapeutics Stock Performance

Shares of NASDAQ:DYN traded up $0.34 during trading hours on Friday, hitting $8.17. 1,315,660 shares of the company's stock traded hands, compared to its average volume of 1,483,576. The company's fifty day simple moving average is $11.24 and its two-hundred day simple moving average is $20.69. The company has a market cap of $924.20 million, a price-to-earnings ratio of -2.29 and a beta of 1.21. Dyne Therapeutics, Inc. has a 52 week low of $6.36 and a 52 week high of $47.45.

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

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.