Palo Alto Investors LP Buys Shares of 1,647,521 Dyne Therapeutics, Inc. $DYN

Palo Alto Investors LP acquired a new position in Dyne Therapeutics, Inc. (NASDAQ:DYN) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,647,521 shares of the company’s stock, valued at approximately $36,591,441,000. Dyne Therapeutics makes up about 5.1% of Palo Alto Investors LP’s holdings, making the stock its 7th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dyne Therapeutics in the 1st quarter valued at $26,000. Strs Ohio acquired a new stake in Dyne Therapeutics during the 4th quarter worth about $51,000. Allworth Financial LP acquired a new stake in Dyne Therapeutics during the 2nd quarter worth about $62,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Dyne Therapeutics during the 4th quarter valued at about $84,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Dyne Therapeutics by 102.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock valued at $95,000 after buying an additional 2,465 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 2,160,516 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares of the company’s stock, valued at $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian S. Posner acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $17.48 per share, for a total transaction of $43,700.00. Following the completion of the acquisition, the director owned 22,500 shares of the company’s stock, valued at approximately $393,300. This represents a 12.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 4,139,196 shares of company stock valued at $99,449,852. Corporate insiders own 9.46% of the company’s stock.

Dyne Therapeutics Price Performance

NASDAQ:DYN opened at $26.09 on Friday. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics, Inc. has a 52 week low of $11.92 and a 52 week high of $27.31. The stock’s 50-day moving average price is $24.26 and its 200-day moving average price is $20.02. The stock has a market capitalization of $4.87 billion, a PE ratio of -7.83 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). As a group, equities analysts expect that Dyne Therapeutics, Inc. will post -3.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DYN has been the topic of several analyst reports. TD Cowen began coverage on Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Evercore set a $33.00 price objective on Dyne Therapeutics in a research report on Friday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday, August 17th. Finally, Morgan Stanley cut their target price on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.42.

Dyne Therapeutics Company Profile

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.