Avidity Partners Management LP Sells 1,100,000 Shares of Dianthus Therapeutics, Inc. $DNTH

Avidity Partners Management LP cut its stake in Dianthus Therapeutics, Inc. (NASDAQ:DNTH) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,104,184 shares of the company’s stock after selling 1,100,000 shares during the period. Dianthus Therapeutics accounts for approximately 25.0% of Avidity Partners Management LP’s investment portfolio, making the stock its largest holding. Avidity Partners Management LP owned 4.87% of Dianthus Therapeutics worth $86,713,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Fairmount Funds Management LLC increased its position in Dianthus Therapeutics by 22.2% in the third quarter. Fairmount Funds Management LLC now owns 3,307,191 shares of the company’s stock worth $130,138,000 after buying an additional 600,000 shares during the period. Vestal Point Capital LP increased its position in Dianthus Therapeutics by 88.2% in the second quarter. Vestal Point Capital LP now owns 3,200,000 shares of the company’s stock worth $59,616,000 after buying an additional 1,499,931 shares during the period. Wellington Management Group LLP increased its position in Dianthus Therapeutics by 3,366.9% in the third quarter. Wellington Management Group LLP now owns 2,577,662 shares of the company’s stock worth $101,431,000 after buying an additional 2,503,311 shares during the period. Vanguard Group Inc. increased its holdings in shares of Dianthus Therapeutics by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 2,048,452 shares of the company’s stock valued at $84,417,000 after purchasing an additional 406,254 shares during the period. Finally, TCG Crossover Management LLC increased its holdings in shares of Dianthus Therapeutics by 11.7% during the third quarter. TCG Crossover Management LLC now owns 1,676,624 shares of the company’s stock valued at $65,975,000 after purchasing an additional 175,000 shares during the period. 47.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Simrat Randhawa sold 26,530 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $90.62, for a total transaction of $2,404,148.60. Following the completion of the transaction, the executive vice president owned 4,000 shares of the company’s stock, valued at $362,480. This trade represents a 86.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ryan Savitz sold 114,367 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $83.00, for a total value of $9,492,461.00. The SEC filing for this sale provides additional information. Insiders have sold 149,121 shares of company stock valued at $12,635,454 in the last ninety days. Company insiders own 3.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DNTH shares. Wall Street Zen raised Dianthus Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dianthus Therapeutics in a report on Monday, April 20th. Guggenheim reissued a “buy” rating on shares of Dianthus Therapeutics in a report on Wednesday. Wedbush raised their price target on Dianthus Therapeutics from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group set a $98.00 price target on Dianthus Therapeutics and gave the company a “buy” rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Dianthus Therapeutics has an average rating of “Moderate Buy” and an average target price of $117.82.

Dianthus Therapeutics Stock Up 7.4%

Shares of DNTH stock opened at $82.07 on Friday. The stock has a 50-day simple moving average of $87.10 and a 200 day simple moving average of $65.07. Dianthus Therapeutics, Inc. has a fifty-two week low of $16.64 and a fifty-two week high of $96.50. The stock has a market capitalization of $4.49 billion, a P/E ratio of -19.87 and a beta of 1.18.

Dianthus Therapeutics (NASDAQ:DNTH) last announced its earnings results on Tuesday, May 5th. The company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.22. Dianthus Therapeutics had a negative return on equity of 27.30% and a negative net margin of 12,998.50%.The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.40 million. On average, sell-side analysts anticipate that Dianthus Therapeutics, Inc. will post -3.82 earnings per share for the current year.

Dianthus Therapeutics Profile

Dianthus Therapeutics, Inc, a clinical-stage biotechnology company, develops complement therapeutics for patients with severe autoimmune and inflammatory diseases. It is developing DNTH103, a monoclonal antibody, which is in Phase 2 clinical trial, for the treatment of generalized myasthenia gravis, multifocal motor neuropathy, and chronic inflammatory demyelinating polyneuropathy. Dianthus Therapeutics, Inc was founded in 2019 and is headquartered in New York, New York.