Sphera Funds Management LTD. Grows Stake in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Sphera Funds Management LTD. grew its position in shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) by 318.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,262 shares of the company’s stock after purchasing an additional 179,758 shares during the period. Sphera Funds Management LTD. owned approximately 0.23% of Dyne Therapeutics worth $5,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in Dyne Therapeutics by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock worth $173,808,000 after acquiring an additional 566,146 shares in the last quarter. Geode Capital Management LLC grew its position in Dyne Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,887,329 shares of the company’s stock worth $44,476,000 after acquiring an additional 27,916 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Dyne Therapeutics in the fourth quarter worth $42,408,000. Orbimed Advisors LLC grew its position in Dyne Therapeutics by 73.2% in the fourth quarter. Orbimed Advisors LLC now owns 1,227,080 shares of the company’s stock worth $28,910,000 after acquiring an additional 518,680 shares in the last quarter. Finally, Norges Bank purchased a new position in Dyne Therapeutics in the fourth quarter worth $22,384,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 6,237 shares of company stock valued at $77,760 over the last three months. Corporate insiders own 14.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DYN shares. JPMorgan Chase & Co. cut their target price on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Scotiabank assumed coverage on shares of Dyne Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price target for the company. Piper Sandler cut their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Dyne Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.85.

Dyne Therapeutics Trading Up 0.3%

Dyne Therapeutics stock opened at $11.74 on Friday. The firm has a 50-day moving average of $10.37 and a 200-day moving average of $17.64. The firm has a market cap of $1.33 billion, a P/E ratio of -3.30 and a beta of 1.19. Dyne Therapeutics, Inc. has a 1-year low of $6.36 and a 1-year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its 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 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.