Norges Bank Makes New Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Norges Bank bought a new stake in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 950,104 shares of the company’s stock, valued at approximately $22,384,000. Norges Bank owned 0.93% of Dyne Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in DYN. Quantbot Technologies LP purchased a new position in Dyne Therapeutics during the 3rd quarter valued at $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Dyne Therapeutics by 5.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,334 shares of the company’s stock valued at $4,825,000 after purchasing an additional 6,784 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Dyne Therapeutics during the third quarter valued at about $36,000. State Street Corp raised its stake in Dyne Therapeutics by 13.8% in the third 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 in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Dyne Therapeutics in the third quarter worth about $573,000. Institutional investors own 96.68% of the company’s stock.

Insider Buying and Selling at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 6,237 shares of company stock worth $77,760 in the last three months. 20.77% of the stock is currently owned by company insiders.

Dyne Therapeutics Trading Down 12.1 %

Shares of DYN stock opened at $8.28 on Monday. The stock has a market capitalization of $936.64 million, a P/E ratio of -2.33 and a beta of 1.21. The firm’s 50 day moving average is $12.81 and its 200 day moving average is $22.52. Dyne Therapeutics, Inc. has a 12-month low of $8.15 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DYN shares. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 21st. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of Dyne Therapeutics in a research report on Monday, March 17th. Finally, Piper Sandler dropped their target price on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.46.

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.