Citadel Advisors LLC recently announced the acquisition of new stake in Dyne Therapeutics Inc (NASDAQ:DYN). The institutional investor has increased its shareholding in the Healthcare company by 11.54% to 3.02 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 4.92% valued currently at $33.44 million. In addition, BlackRock Fund Advisors raised its holdings by 35073.0 to 2.87 million shares. And Logos Global Management LP has lifted its position by 22.47% or 0.4 million shares – to 2.18 million shares.
With over 8.56 million Dyne Therapeutics Inc (DYN) shares trading Friday and a closing price of $17.96 on the day, the dollar volume was approximately $153.79 million. The shares have shown a positive half year performance of 63.42% and its price on 01/05/24 lost nearly -7.37%. Currently, there are 55.64M common shares owned by the public and among those 31.45M shares have been available to trade.
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Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 1,143,930 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 510,772 shares.
The top 3 mutual fund holders in Dyne Therapeutics Inc are Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 1.45 million shares of the company’s stock, all valued at over $16.11 million. SPDR S&P Biotech ETF bought 5715.0 shares to see its total holdings expand to 1.23 million shares valued at over $13.58 million and representing 2.00% of the shares outstanding. iShares Russell 2000 ETF bought 513.0 shares to bring its total holdings to over 1.05 million shares at a value of $11.58 million. iShares Russell 2000 ETF now owns shares totaling to 1.70% of the shares outstanding.
Shares of Dyne Therapeutics Inc (NASDAQ: DYN) opened at $17.79, down -$1.6 from a prior closing price of $19.39. However, the script later moved the day high at 18.41, down -7.37%. The company’s stock has a 5-day price change of 36.47% and 90.25% over the past three months. DYN shares are trading 35.04% year to date (YTD), with the 12-month market performance up to 51.43% higher. It has a 12-month low price of $6.40 and touched a high of $19.87 over the same period. DYN has an average intraday trading volume of 1.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 42.00%, 68.73%, and 65.18% respectively.
Institutional ownership of Dyne Therapeutics Inc (NASDAQ: DYN) shares accounts for 61.41% of the company’s 55.64M shares outstanding. Mutual fund holders own 24.06%, while other institutional holders and individual stakeholders account for 37.42% and 13.91% respectively.
It has a market capitalization of $1.10B and a beta (3y monthly) value of 0.72. The earnings-per-share (ttm) stands at -$3.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 22.70% over the week and 10.29% over the month.
Analysts forecast that Dyne Therapeutics Inc (DYN) will achieve an EPS of -$0.86 for the current quarter, -$0.72 for the next quarter and -$2.98 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.08 while analysts give the company a high EPS estimate of -$0.6. Comparatively, EPS for the current quarter was -$0.74 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.55%, and 23.68% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Dyne Therapeutics Inc (DYN) as a “Strong Buy” at a consensus score of 1.00. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DYN, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on February 27, 2023, with the firm’s price target at $16-$27.
