Jennison Associates LLC Buys Shares of 202,871 Dyne Therapeutics, Inc. (NASDAQ:DYN)

Jennison Associates LLC purchased a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) in the fourth quarter, Holdings Channel.com reports. The fund purchased 202,871 shares of the company’s stock, valued at approximately $2,698,000.

Several other institutional investors and hedge funds have also modified their holdings of DYN. Vivo Capital LLC grew its holdings in shares of Dyne Therapeutics by 79.2% during the 3rd quarter. Vivo Capital LLC now owns 1,035,136 shares of the company’s stock valued at $9,275,000 after purchasing an additional 457,494 shares during the last quarter. Braidwell LP grew its stake in shares of Dyne Therapeutics by 32.2% during the third quarter. Braidwell LP now owns 1,821,972 shares of the company’s stock worth $16,325,000 after buying an additional 444,100 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Dyne Therapeutics during the fourth quarter worth $4,988,000. Armistice Capital LLC lifted its stake in shares of Dyne Therapeutics by 31.6% in the 3rd quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,752,000 after acquiring an additional 288,000 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at $2,511,000. 96.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dyne Therapeutics

In other news, insider Wildon Farwell sold 1,585 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $25.70, for a total value of $40,734.50. Following the transaction, the insider now owns 151,590 shares in the company, valued at $3,895,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Wildon Farwell sold 1,585 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $25.70, for a total transaction of $40,734.50. Following the transaction, the insider now directly owns 151,590 shares in the company, valued at $3,895,863. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard William Scalzo sold 2,672 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $25.28, for a total value of $67,548.16. Following the sale, the senior vice president now directly owns 119,283 shares of the company’s stock, valued at $3,015,474.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,875,432 shares of company stock worth $44,368,530. Insiders own 20.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DYN. Piper Sandler increased their target price on Dyne Therapeutics from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, March 6th. Raymond James boosted their target price on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and set a $47.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, March 26th. Finally, Chardan Capital increased their price objective on Dyne Therapeutics from $20.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Dyne Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $37.43.

Dyne Therapeutics Stock Up 4.4 %

Shares of NASDAQ DYN opened at $24.73 on Friday. Dyne Therapeutics, Inc. has a twelve month low of $6.40 and a twelve month high of $30.27. The firm has a fifty day simple moving average of $26.07 and a 200 day simple moving average of $17.70. The company has a market capitalization of $2.13 billion, a PE ratio of -6.28 and a beta of 0.95.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.17). As a group, equities analysts expect that Dyne Therapeutics, Inc. will post -3.25 earnings per share 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.