Federated Hermes Inc. Makes New Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Federated Hermes Inc. acquired a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 375,000 shares of the company’s stock, valued at approximately $4,988,000.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Dyne Therapeutics by 58.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Dyne Therapeutics by 95.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock valued at $83,000 after buying an additional 4,552 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Dyne Therapeutics by 355.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock valued at $94,000 after buying an additional 5,541 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Dyne Therapeutics by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 15,229 shares of the company’s stock worth $136,000 after acquiring an additional 1,476 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Dyne Therapeutics in the 4th quarter valued at about $172,000. Institutional investors own 96.68% of the company’s stock.

Analysts Set New Price Targets

DYN has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, March 6th. Piper Sandler boosted their target price on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Stifel Nicolaus increased their target price on Dyne Therapeutics from $35.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Chardan Capital boosted their price objective on Dyne Therapeutics from $20.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, Raymond James raised their target price on Dyne Therapeutics from $27.00 to $56.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

Insider Activity

In other news, Director Jason P. Rhodes sold 248,219 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $23.72, for a total transaction of $5,887,754.68. Following the transaction, the director now directly owns 903,527 shares in the company, valued at approximately $21,431,660.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jason P. Rhodes sold 248,219 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $23.72, for a total value of $5,887,754.68. Following the completion of the sale, the director now directly owns 903,527 shares in the company, valued at approximately $21,431,660.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wildon Farwell sold 1,585 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $25.70, for a total transaction of $40,734.50. Following the transaction, the insider now directly owns 151,590 shares in the company, valued at approximately $3,895,863. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,875,432 shares of company stock worth $44,368,530. 20.77% of the stock is currently owned by corporate insiders.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $23.70 on Friday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -6.01 and a beta of 0.95. The stock has a fifty day moving average of $26.06 and a 200 day moving average of $17.66. Dyne Therapeutics, Inc. has a 52-week low of $6.40 and a 52-week high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.17). Equities analysts forecast that Dyne Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

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.