Raymond James Financial Inc. Makes New $2.34 Million Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Raymond James Financial Inc. acquired a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 99,328 shares of the company's stock, valued at approximately $2,340,000. Raymond James Financial Inc. owned about 0.10% of Dyne Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DYN. FMR LLC increased its stake in Dyne Therapeutics by 69.7% during the third quarter. FMR LLC now owns 9,026,697 shares of the company's stock worth $324,239,000 after purchasing an additional 3,707,734 shares during the period. RTW Investments LP increased its stake in Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company's stock worth $244,926,000 after buying an additional 431,503 shares during the period. Janus Henderson Group PLC increased its stake in Dyne Therapeutics by 47.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company's stock worth $244,755,000 after buying an additional 2,189,339 shares during the period. RA Capital Management L.P. lifted its holdings in Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company's stock worth $229,211,000 after buying an additional 331,940 shares in the last quarter. Finally, State Street Corp boosted its position in Dyne Therapeutics by 13.8% in the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company's stock valued at $130,816,000 after buying an additional 440,890 shares during the period. Hedge funds and other institutional investors own 96.68% of the company's stock.

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Insider Activity

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 of the company's stock, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 6,237 shares of company stock valued at $77,760 in the last ninety days. 20.77% of the stock is currently owned by company insiders.

Dyne Therapeutics Stock Performance

Shares of DYN stock traded up $0.68 during mid-day trading on Wednesday, hitting $9.91. 2,743,171 shares of the stock were exchanged, compared to its average volume of 1,416,792. Dyne Therapeutics, Inc. has a 12-month low of $8.94 and a 12-month high of $47.45. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.78 and a beta of 1.11. The stock's fifty day simple moving average is $13.01 and its two-hundred day simple moving average is $22.96.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Chardan Capital reiterated a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Scotiabank assumed coverage on Dyne Therapeutics in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price target on the stock. Piper Sandler cut their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Finally, BMO Capital Markets initiated coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.