The Manufacturers Life Insurance Company Has $3.82 Million Stock Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

The Manufacturers Life Insurance Company trimmed its position in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 15.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 106,215 shares of the company’s stock after selling 20,029 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Dyne Therapeutics worth $3,815,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Light Asset Management LLC lifted its stake in shares of Dyne Therapeutics by 261.0% during the second quarter. First Light Asset Management LLC now owns 382,433 shares of the company’s stock valued at $13,496,000 after acquiring an additional 276,485 shares during the period. Marshall Wace LLP lifted its position in Dyne Therapeutics by 409.4% during the 2nd quarter. Marshall Wace LLP now owns 273,567 shares of the company’s stock valued at $9,654,000 after purchasing an additional 219,862 shares during the period. Renaissance Technologies LLC bought a new position in shares of Dyne Therapeutics in the 2nd quarter valued at about $4,447,000. Avoro Capital Advisors LLC bought a new stake in shares of Dyne Therapeutics during the second quarter worth approximately $4,085,000. Finally, Federated Hermes Inc. lifted its holdings in Dyne Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock valued at $42,881,000 after buying an additional 114,888 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Up 6.3 %

Dyne Therapeutics stock opened at $29.50 on Friday. The company has a 50 day moving average of $31.12 and a 200-day moving average of $35.37. The stock has a market capitalization of $3.00 billion, a PE ratio of -8.29 and a beta of 1.09. Dyne Therapeutics, Inc. has a twelve month low of $10.33 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Guggenheim lifted their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a 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. Royal Bank of Canada started coverage on Dyne Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $35.00 in a research report on Thursday, October 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.82.

Insider Activity

In related news, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the transaction, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlo Incerti sold 16,500 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $28.73, for a total transaction of $474,045.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,257 shares of company stock worth $6,193,718. Insiders own 20.77% of the company’s stock.

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.