Magnetar Financial LLC Takes $263,000 Position in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Magnetar Financial LLC purchased a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,181 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its position in Dyne Therapeutics by 69.7% during the 3rd quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after buying an additional 3,707,734 shares during the period. RTW Investments LP boosted its position in Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after buying an additional 431,503 shares during the period. Janus Henderson Group PLC boosted its position in Dyne Therapeutics by 47.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after buying an additional 2,189,339 shares during the period. RA Capital Management L.P. boosted its position in Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after buying an additional 331,940 shares during the period. Finally, State Street Corp boosted its position in Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after buying an additional 440,890 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on DYN. JPMorgan Chase & Co. cut their target price on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. Piper Sandler lowered their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Chardan Capital restated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $47.46.

Dyne Therapeutics Stock Down 1.5 %

NASDAQ:DYN opened at $12.08 on Monday. The company has a fifty day moving average of $13.60 and a 200-day moving average of $24.14. The firm has a market capitalization of $1.37 billion, a P/E ratio of -3.39 and a beta of 1.11. Dyne Therapeutics, Inc. has a twelve month low of $11.18 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares in the company, valued at approximately $2,777,263.65. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is owned by corporate 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.