The Manufacturers Life Insurance Company Acquires 61,902 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

The Manufacturers Life Insurance Company boosted its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 96.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,244 shares of the company’s stock after buying an additional 61,902 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.14% of Dyne Therapeutics worth $4,455,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DYN. Concurrent Investment Advisors LLC bought a new stake in Dyne Therapeutics during the first quarter worth about $573,000. Sei Investments Co. bought a new stake in Dyne Therapeutics during the first quarter worth about $693,000. Rafferty Asset Management LLC lifted its stake in Dyne Therapeutics by 17.7% during the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock worth $2,182,000 after purchasing an additional 24,632 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Dyne Therapeutics during the first quarter worth about $810,000. Finally, Commodore Capital LP bought a new stake in Dyne Therapeutics during the fourth quarter worth about $11,970,000. Institutional investors own 96.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DYN. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Stifel Nicolaus boosted their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, Guggenheim boosted their target price on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Insiders Place Their Bets

In other news, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the sale, the director now directly owns 234,127 shares of the company’s stock, valued at $8,533,929.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Dyne Therapeutics news, CEO John Cox acquired 32,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. The trade was a -100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dirk Kersten sold 79,411 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares in the company, valued at $8,533,929.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,304 shares of company stock worth $4,857,019. Company insiders own 20.77% of the company’s stock.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $31.68 on Tuesday. Dyne Therapeutics, Inc. has a 1 year low of $6.40 and a 1 year high of $47.45. The company has a market cap of $2.77 billion, a PE ratio of -7.98 and a beta of 1.05. The stock’s 50-day moving average is $39.12 and its 200 day moving average is $34.20.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. Analysts expect that Dyne Therapeutics, Inc. will post -2.96 EPS for the current fiscal year.

About Dyne Therapeutics

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.