Jennison Associates LLC Boosts Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Jennison Associates LLC lifted its holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,346,952 shares of the company’s stock after purchasing an additional 19,730 shares during the period. Jennison Associates LLC’s holdings in Dyne Therapeutics were worth $48,383,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DYN. RA Capital Management L.P. acquired a new stake in Dyne Therapeutics in the 1st quarter valued at about $140,666,000. Janus Henderson Group PLC raised its holdings in Dyne Therapeutics by 23,512.0% in the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after acquiring an additional 2,663,910 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Dyne Therapeutics by 8,284.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock worth $32,141,000 after acquiring an additional 1,118,590 shares during the last quarter. Vanguard Group Inc. grew its holdings in Dyne Therapeutics by 47.7% during the 1st 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. Finally, Artal Group S.A. increased its position in shares of Dyne Therapeutics by 24.6% in the 1st quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after purchasing an additional 300,000 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Dyne Therapeutics Price Performance

Shares of Dyne Therapeutics stock opened at $29.79 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -8.37 and a beta of 1.10. The firm’s fifty day simple moving average is $32.25 and its 200-day simple moving average is $35.21. Dyne Therapeutics, Inc. has a 12 month low of $10.12 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Analysts anticipate that Dyne Therapeutics, Inc. will post -3.39 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the transaction, the director now directly owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. The trade was a 25.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlo Incerti sold 16,500 shares of the firm’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. Insiders sold a total of 176,257 shares of company stock valued at $6,193,718 in the last ninety days. Insiders own 20.77% of the company’s stock.

Analyst Upgrades and Downgrades

DYN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Morgan Stanley lifted their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. cut 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 note on Thursday, October 24th. Finally, Guggenheim increased their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

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.