HighVista Strategies LLC Makes New Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

HighVista Strategies LLC purchased a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) in the third quarter, Holdings Channel reports. The institutional investor purchased 65,482 shares of the company’s stock, valued at approximately $2,352,000.

Several other large investors also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D bought a new stake in shares of Dyne Therapeutics during the 3rd quarter worth $1,588,000. Seven Eight Capital LP raised its holdings in Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock worth $1,896,000 after buying an additional 35,568 shares during the period. Jennison Associates LLC lifted its stake in Dyne Therapeutics by 1.5% during the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after buying an additional 19,730 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Dyne Therapeutics in the second quarter worth about $1,724,000. Finally, Vanguard Group Inc. increased its position in shares of Dyne Therapeutics by 47.7% in the first 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. Institutional investors own 96.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada started coverage on shares of Dyne Therapeutics in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Morgan Stanley increased their price objective on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $35.00 in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.82.

Insider Buying and Selling

In other Dyne Therapeutics news, CEO John Cox bought 32,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $264,320. This represents a -133.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carlo Incerti sold 16,500 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,257 shares of company stock worth $6,193,718. 20.77% of the stock is currently owned by insiders.

Dyne Therapeutics Trading Down 4.3 %

DYN stock opened at $29.28 on Tuesday. The firm has a market cap of $2.98 billion, a PE ratio of -8.22 and a beta of 1.09. Dyne Therapeutics, Inc. has a 1 year low of $10.33 and a 1 year high of $47.45. The company has a fifty day simple moving average of $31.66 and a 200 day simple moving average of $35.48.

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