Logos Global Management LP Sells 1,465,000 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Logos Global Management LP decreased its position in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 84.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,000 shares of the company’s stock after selling 1,465,000 shares during the period. Logos Global Management LP owned about 0.30% of Dyne Therapeutics worth $9,352,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after buying an additional 669 shares in the last quarter. Amalgamated Bank grew its stake in shares of Dyne Therapeutics by 39.9% in the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Dyne Therapeutics by 28.0% in the first quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after buying an additional 1,291 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Dyne Therapeutics during the second quarter valued at approximately $203,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Dyne Therapeutics during the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Down 5.4 %

NASDAQ:DYN opened at $34.63 on Tuesday. Dyne Therapeutics, Inc. has a 12 month low of $6.40 and a 12 month high of $47.45. The company has a market cap of $3.03 billion, a PE ratio of -8.72 and a beta of 1.07. The company has a 50 day simple moving average of $40.89 and a two-hundred day simple moving average of $33.71.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. Research analysts forecast that Dyne Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Insider Activity

In other news, SVP Richard William Scalzo sold 1,390 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were 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 owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Richard William Scalzo sold 1,390 shares of Dyne Therapeutics stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares in the company, valued at approximately $3,405,524.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Susanna Gatti High sold 8,976 shares of Dyne Therapeutics stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total transaction of $308,864.16. Following the transaction, the chief operating officer now owns 131,636 shares in the company, valued at approximately $4,529,594.76. The disclosure for this sale can be found here. Insiders sold a total of 12,705 shares of company stock valued at $437,701 in the last 90 days. Company insiders own 20.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a report on Monday. Guggenheim raised their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley raised their price target 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. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price target on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.40.

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.