Wellington Management Group LLP Sells 184,761 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Wellington Management Group LLP lessened its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Free Report) by 81.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,661 shares of the company's stock after selling 184,761 shares during the period. Wellington Management Group LLP's holdings in Dyne Therapeutics were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of DYN. Nisa Investment Advisors LLC grew its position in shares of Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company's stock valued at $26,000 after buying an additional 669 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Dyne Therapeutics in the 3rd quarter valued at about $34,000. Point72 DIFC Ltd purchased a new position in shares of Dyne Therapeutics during the 3rd quarter worth about $36,000. US Bancorp DE increased its holdings in shares of Dyne Therapeutics by 776.9% during the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company's stock worth $49,000 after buying an additional 1,212 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Dyne Therapeutics during the 3rd quarter worth $62,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Price Performance

DYN traded down $0.26 during mid-day trading on Thursday, hitting $24.30. The stock had a trading volume of 923,789 shares, compared to its average volume of 1,437,750. Dyne Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $47.45. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -6.83 and a beta of 1.09. The stock's fifty day simple moving average is $29.82 and its 200-day simple moving average is $35.04.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings results 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). As a group, research analysts expect that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other news, Director Jason P. Rhodes sold 782 shares of the business's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $33.10, for a total transaction of $25,884.20. Following the transaction, the director now directly owns 15,962 shares in the company, valued at $528,342.20. The trade was a 4.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dirk Kersten sold 79,411 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now owns 234,127 shares of the company's stock, 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. Insiders sold 167,341 shares of company stock valued at $5,862,564 in the last ninety days. 20.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DYN has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on Dyne Therapeutics in a research report on Tuesday, November 26th. They set an "outperform" rating and a $45.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $55.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Baird R W raised Dyne Therapeutics to a "strong-buy" rating in a report on Thursday, December 12th. Piper Sandler restated an "overweight" rating and set a $53.00 price target on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Finally, StockNews.com lowered Dyne Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.42.

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.