Sphera Funds Management LTD. Purchases New Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Sphera Funds Management LTD. bought a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 56,504 shares of the company’s stock, valued at approximately $2,030,000. Sphera Funds Management LTD. owned about 0.06% of Dyne Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Dyne Therapeutics by 13.8% during the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after purchasing an additional 440,890 shares during the last quarter. RA Capital Management L.P. increased its stake in Dyne Therapeutics by 5.5% during the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after purchasing an additional 331,940 shares during the last quarter. RTW Investments LP increased its stake in Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after purchasing an additional 431,503 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Dyne Therapeutics during the third quarter worth about $36,000. Finally, Janus Henderson Group PLC grew its position in shares of Dyne Therapeutics by 47.3% during the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after acquiring an additional 2,189,339 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

Insider Activity

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of Dyne Therapeutics stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total transaction of $25,884.20. Following the sale, the director now owns 15,962 shares in the company, valued at $528,342.20. The trade was a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the sale, the director now owns 234,127 shares in the company, valued at $8,533,929.15. This represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,257 shares of company stock valued at $6,193,718. 20.77% of the stock is owned by company insiders.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $29.44 on Thursday. The stock’s 50 day moving average price is $31.45 and its 200 day moving average price is $35.49. Dyne Therapeutics, Inc. has a 52 week low of $10.33 and a 52 week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities research analysts predict that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Guggenheim increased their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley increased their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.82.

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.