Dyne Therapeutics, Inc. $DYN Shares Purchased by Sofinnova Investments Inc.

Sofinnova Investments Inc. boosted its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 128.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,254,161 shares of the company’s stock after purchasing an additional 1,268,333 shares during the quarter. Dyne Therapeutics makes up 1.8% of Sofinnova Investments Inc.’s portfolio, making the stock its 15th biggest holding. Sofinnova Investments Inc.’s holdings in Dyne Therapeutics were worth $44,091,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in Dyne Therapeutics in the fourth quarter valued at $204,000. Frazier Life Sciences Management L.P. lifted its position in Dyne Therapeutics by 16.0% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock worth $61,674,000 after buying an additional 434,977 shares during the period. Eventide Asset Management LLC purchased a new position in Dyne Therapeutics during the fourth quarter worth about $13,306,000. The Manufacturers Life Insurance Company raised its holdings in shares of Dyne Therapeutics by 17.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,507 shares of the company’s stock worth $1,320,000 after purchasing an additional 10,164 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Dyne Therapeutics in the 4th quarter worth about $543,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Stock Performance

Shares of DYN stock opened at $18.73 on Tuesday. Dyne Therapeutics, Inc. has a 1-year low of $8.06 and a 1-year high of $25.00. The company has a current ratio of 19.92, a quick ratio of 19.92 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -5.82 and a beta of 1.09. The stock’s fifty day simple moving average is $18.27 and its 200-day simple moving average is $18.14.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.04. During the same period in the previous year, the company posted ($1.05) EPS. On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 287,956 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $19.68, for a total value of $5,666,974.08. Following the transaction, the director owned 11,663 shares in the company, valued at $229,527.84. The trade was a 96.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders bought 9,000 shares of company stock valued at $156,800 and sold 1,559,462 shares valued at $29,814,746. 9.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Morgan Stanley decreased their target price on Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Chardan Capital reaffirmed a “buy” rating and set a $38.00 target price on shares of Dyne Therapeutics in a research note on Monday, March 9th. HC Wainwright cut their target price on Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Dyne Therapeutics in a research note on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.