Avoro Capital Advisors LLC Acquires New Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Avoro Capital Advisors LLC bought a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 115,751 shares of the company’s stock, valued at approximately $4,085,000. Avoro Capital Advisors LLC owned 0.13% of Dyne Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado acquired a new position in shares of Dyne Therapeutics during the 2nd quarter worth $203,000. Seven Eight Capital LP grew its position in shares of Dyne Therapeutics by 195.7% in the second quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock valued at $1,896,000 after purchasing an additional 35,568 shares during the last quarter. Amalgamated Bank increased its stake in shares of Dyne Therapeutics by 39.9% during the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Dyne Therapeutics during the 2nd quarter worth approximately $1,724,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Dyne Therapeutics during the 2nd quarter worth approximately $4,447,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Wall Street Analysts Forecast Growth

DYN has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Guggenheim raised their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Piper Sandler upped their price target on shares of Dyne Therapeutics from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Wednesday, September 4th. Finally, Morgan Stanley upped their price objective on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,339 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 value of $80,812.45. Following the completion of the transaction, the insider now owns 140,375 shares of the company’s stock, valued at $4,849,956.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Oxana Beskrovnaya sold 2,339 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $80,812.45. Following the completion of the transaction, the insider now owns 140,375 shares of the company’s stock, valued at approximately $4,849,956.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,705 shares of company stock valued at $437,701. Insiders own 20.77% of the company’s stock.

Dyne Therapeutics Price Performance

Shares of Dyne Therapeutics stock opened at $36.59 on Monday. Dyne Therapeutics, Inc. has a 1-year low of $6.40 and a 1-year high of $47.45. The company has a market capitalization of $3.20 billion, a PE ratio of -9.22 and a beta of 1.07. The business has a 50-day moving average of $41.07 and a 200-day moving average of $33.66.

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

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.