Bank of America Corp DE Decreases Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Bank of America Corp DE decreased its holdings in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 58.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,641 shares of the company’s stock after selling 169,071 shares during the quarter. Bank of America Corp DE owned approximately 0.12% of Dyne Therapeutics worth $2,889,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Dyne Therapeutics during the fourth quarter worth approximately $1,578,000. Ameriprise Financial Inc. lifted its stake in Dyne Therapeutics by 3.2% during the fourth quarter. Ameriprise Financial Inc. now owns 219,635 shares of the company’s stock worth $5,175,000 after purchasing an additional 6,735 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Dyne Therapeutics by 3.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 932,231 shares of the company’s stock worth $21,963,000 after purchasing an additional 32,041 shares during the last quarter. Comerica Bank lifted its stake in Dyne Therapeutics by 20,133.7% during the fourth quarter. Comerica Bank now owns 35,409 shares of the company’s stock worth $834,000 after purchasing an additional 35,234 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Dyne Therapeutics by 7.7% during the fourth quarter. Northern Trust Corp now owns 777,013 shares of the company’s stock worth $18,306,000 after purchasing an additional 55,511 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Down 3.4%

NASDAQ:DYN opened at $11.82 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of -3.32 and a beta of 1.19. The stock’s 50 day simple moving average is $10.30 and its 200-day simple moving average is $16.21. Dyne Therapeutics, Inc. has a 12-month low of $6.36 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). Research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DYN shares. Evercore ISI started coverage on Dyne Therapeutics in a research note on Thursday. They set an “outperform” rating and a $46.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. BMO Capital Markets initiated coverage on Dyne Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target on the stock. Scotiabank initiated coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price target on the stock. Finally, HC Wainwright cut their price target on Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has issued 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.15.

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.