Point72 Asset Management L.P. Cuts Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Point72 Asset Management L.P. lowered its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 47.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357,518 shares of the company’s stock after selling 328,916 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.41% of Dyne Therapeutics worth $12,617,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Dyne Therapeutics by 4.3% in the 2nd quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock valued at $300,000 after acquiring an additional 352 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after purchasing an additional 669 shares in the last quarter. Amalgamated Bank raised its position 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 during the last quarter. Principal Financial Group Inc. raised its position in shares of Dyne Therapeutics by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 15,403 shares of the company’s stock worth $437,000 after purchasing an additional 857 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Dyne Therapeutics by 28.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock valued at $167,000 after buying an additional 1,291 shares in the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com cut Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Morgan Stanley increased their price objective on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Guggenheim upped 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. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

Shares of DYN opened at $35.92 on Tuesday. The stock has a market capitalization of $3.14 billion, a PE ratio of -9.05 and a beta of 1.07. The company’s 50-day simple moving average is $40.11 and its 200-day simple moving average is $34.00. Dyne Therapeutics, Inc. has a 1 year low of $6.40 and a 1 year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares of the company’s stock, valued at $8,533,929.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Dyne Therapeutics news, CEO John Cox acquired 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was 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 in the company, valued at approximately $264,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $8,533,929.15. The disclosure for this sale can be found here. Insiders have sold a total of 135,304 shares of company stock worth $4,857,019 in the last quarter. 20.77% of the stock is owned by company insiders.

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.