Point72 Asset Management L.P. Sells 255,038 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Point72 Asset Management L.P. reduced its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 71.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,480 shares of the company's stock after selling 255,038 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.10% of Dyne Therapeutics worth $3,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC grew its holdings in Dyne Therapeutics by 4.3% during the 2nd quarter. AQR Capital Management LLC now owns 8,495 shares of the company's stock worth $300,000 after acquiring an additional 352 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company's stock valued at $26,000 after purchasing an additional 669 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Dyne Therapeutics by 24.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company's stock valued at $123,000 after purchasing an additional 709 shares in the last quarter. KBC Group NV raised its position in Dyne Therapeutics by 53.4% in the 3rd quarter. KBC Group NV now owns 2,157 shares of the company's stock worth $77,000 after purchasing an additional 751 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company's stock valued at $99,000 after buying an additional 796 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Performance

DYN stock traded down $0.61 during midday trading on Monday, hitting $28.89. 391,932 shares of the company's stock were exchanged, compared to its average volume of 1,457,264. Dyne Therapeutics, Inc. has a one year low of $10.33 and a one year high of $47.45. The company has a market cap of $2.94 billion, a PE ratio of -8.15 and a beta of 1.09. The stock's fifty day moving average price is $31.12 and its 200-day moving average price is $35.40.

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

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,339 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total transaction of $80,812.45. Following the completion of the transaction, the insider now owns 140,375 shares of the company's stock, valued at $4,849,956.25. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard William Scalzo sold 1,390 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the sale, the senior vice president now directly owns 98,568 shares in the company, valued at approximately $3,405,524.40. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,257 shares of company stock valued at $6,193,718. 20.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DYN shares. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Oppenheimer reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Morgan Stanley upped their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.82.

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.