Principal Financial Group Inc. Reduces Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Principal Financial Group Inc. reduced its stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 45.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,497 shares of the company’s stock after selling 6,274 shares during the quarter. Principal Financial Group Inc.’s holdings in Dyne Therapeutics were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. RA Capital Management L.P. purchased a new position in shares of Dyne Therapeutics in the 1st quarter valued at approximately $140,666,000. Janus Henderson Group PLC boosted its holdings in shares of Dyne Therapeutics by 23,512.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after buying an additional 2,663,910 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Dyne Therapeutics by 8,284.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock worth $32,141,000 after buying an additional 1,118,590 shares during the period. Vanguard Group Inc. increased its stake in shares of Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after acquiring an additional 1,110,629 shares in the last quarter. Finally, Artal Group S.A. lifted its position in Dyne Therapeutics by 24.6% during the 1st quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after acquiring an additional 300,000 shares during the period. 96.68% of the stock is currently owned by institutional investors.

Dyne Therapeutics Price Performance

DYN stock opened at $29.45 on Tuesday. Dyne Therapeutics, Inc. has a 1 year low of $10.12 and a 1 year high of $47.45. The company has a market cap of $3.00 billion, a P/E ratio of -8.27 and a beta of 1.10. The stock’s fifty day moving average price is $32.06 and its 200-day moving average price is $35.40.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, analysts expect that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current year.

Insider Activity

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of Dyne Therapeutics stock in a transaction that occurred on 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 owns 15,962 shares of the company’s stock, valued at $528,342.20. The trade was a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Susanna Gatti High sold 8,976 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the transaction, the chief operating officer now owns 131,636 shares of the company’s stock, valued at approximately $4,529,594.76. The trade was a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,257 shares of company stock valued at $6,193,718 in the last 90 days. Company insiders own 20.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DYN shares. JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Guggenheim raised their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

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.