Assetmark Inc. Purchases New Stake in Dyne Therapeutics, Inc. $DYN

Assetmark Inc. acquired a new position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,062 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of Dyne Therapeutics by 523.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after purchasing an additional 14,727,667 shares during the period. Vanguard Group Inc. increased its stake in Dyne Therapeutics by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock worth $219,376,000 after acquiring an additional 1,455,151 shares during the period. State Street Corp increased its stake in Dyne Therapeutics by 27.0% during the 4th quarter. State Street Corp now owns 6,692,745 shares of the company’s stock worth $130,910,000 after acquiring an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Dyne Therapeutics by 45.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock valued at $101,164,000 after acquiring an additional 1,618,000 shares in the last quarter. Finally, Orbis Allan Gray Ltd acquired a new position in Dyne Therapeutics in the 4th quarter valued at $93,926,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

Analyst Ratings Changes

DYN has been the topic of several analyst reports. Evercore set a $33.00 target price on Dyne Therapeutics in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. TD Cowen started coverage on shares of Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating for the company. Cantor Fitzgerald began coverage on shares of Dyne Therapeutics in a research report on Thursday. They set an “overweight” rating for the company. Finally, Wall Street Zen upgraded shares of Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.17.

Dyne Therapeutics Price Performance

Shares of DYN opened at $24.44 on Monday. Dyne Therapeutics, Inc. has a 52 week low of $8.88 and a 52 week high of $25.00. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -7.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 19.92 and a current ratio of 19.92. The stock has a fifty day moving average of $20.38 and a 200-day moving average of $18.62.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.04. During the same period in the prior year, the business posted ($1.05) EPS. As a group, sell-side analysts anticipate that Dyne Therapeutics, Inc. will post -3.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brian S. Posner purchased 2,000 shares of Dyne Therapeutics stock in a transaction dated Monday, June 8th. The shares were bought at an average cost of $16.94 per share, for a total transaction of $33,880.00. Following the completion of the acquisition, the director owned 24,500 shares in the company, valued at approximately $415,030. This trade represents a 8.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason P. Rhodes sold 297,211 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $23.26, for a total transaction of $6,913,127.86. Following the completion of the transaction, the director owned 2,962 shares of the company’s stock, valued at approximately $68,896.12. This trade represents a 99.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 9,000 shares of company stock valued at $156,800 and have sold 1,892,879 shares valued at $40,500,030. Insiders own 9.46% of the company’s stock.

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.