Handelsbanken Fonder AB Invests $1.18 Million in Dyne Therapeutics, Inc. $DYN

Handelsbanken Fonder AB acquired a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 53,200 shares of the company’s stock, valued at approximately $1,182,000.

A number of other hedge funds also recently made changes to their positions in DYN. Perceptive Advisors LLC raised its stake in Dyne Therapeutics by 34.2% during the 1st quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock worth $84,646,000 after acquiring an additional 1,189,895 shares during the period. Bank of America Corp DE increased its stake in shares of Dyne Therapeutics by 63.5% in the first quarter. Bank of America Corp DE now owns 1,443,313 shares of the company’s stock worth $26,167,000 after purchasing an additional 560,391 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Dyne Therapeutics by 15.6% during the 1st quarter. California State Teachers Retirement System now owns 139,663 shares of the company’s stock valued at $2,532,000 after purchasing an additional 18,863 shares during the period. Royal Bank of Canada raised its position in shares of Dyne Therapeutics by 267.6% during the 1st quarter. Royal Bank of Canada now owns 68,188 shares of the company’s stock valued at $1,236,000 after purchasing an additional 49,641 shares during the period. Finally, Rock Springs Capital Management LP lifted its stake in shares of Dyne Therapeutics by 6.5% during the 1st quarter. Rock Springs Capital Management LP now owns 972,198 shares of the company’s stock valued at $17,626,000 after buying an additional 59,243 shares in the last quarter. 96.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 2,160,516 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the sale, the director directly owned 428,946 shares of the company’s stock, valued at $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erick Lucera sold 2,362 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the sale, the chief financial officer directly owned 121,563 shares in the company, valued at $2,476,238.31. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 6,500 shares of company stock worth $114,000 and have sold 4,139,196 shares worth $99,449,852. 9.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DYN has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their price target on Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Evercore set a $33.00 price objective on Dyne Therapeutics in a research note on Friday, May 15th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Monday. Morgan Stanley decreased their target price on Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.42.

Dyne Therapeutics Trading Down 0.6%

Shares of DYN opened at $26.00 on Wednesday. The stock has a market capitalization of $4.86 billion, a PE ratio of -7.81 and a beta of 1.07. The company’s fifty day moving average is $23.18 and its 200 day moving average is $19.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. Dyne Therapeutics, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $27.31.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.33). Sell-side analysts expect that Dyne Therapeutics, Inc. will post -3.37 earnings per share for the current fiscal year.

About Dyne Therapeutics

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.