SummitTX Capital L.P. Cuts Position in Dyne Therapeutics, Inc. $DYN

SummitTX Capital L.P. trimmed its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,188 shares of the company’s stock after selling 47,088 shares during the period. SummitTX Capital L.P. owned 0.12% of Dyne Therapeutics worth $3,557,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DYN. Hilton Head Capital Partners LLC purchased a new position in Dyne Therapeutics in the first quarter valued at about $26,000. Strs Ohio purchased a new stake in shares of Dyne Therapeutics during the fourth quarter valued at about $51,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Dyne Therapeutics during the fourth quarter valued at about $84,000. Steward Partners Investment Advisory LLC lifted its position in shares of Dyne Therapeutics by 102.1% during the fourth 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. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Dyne Therapeutics by 275.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company’s stock valued at $100,000 after buying an additional 7,697 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore set a $33.00 price objective on shares of Dyne Therapeutics in a research report on Friday, May 15th. Sanford C. Bernstein increased their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Finally, Cantor Fitzgerald assumed coverage on Dyne Therapeutics in a research report on Thursday. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

Insiders Place Their Bets

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 480,240 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $22.79, for a total transaction of $10,944,669.60. Following the completion of the transaction, the director directly owned 875,912 shares of the company’s stock, valued at approximately $19,962,034.48. This trade represents a 35.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 9,000 shares of company stock valued at $156,800 and have sold 1,665,542 shares valued at $36,321,576. Company insiders own 9.46% of the company’s stock.

Dyne Therapeutics Stock Up 4.9%

Dyne Therapeutics stock opened at $25.63 on Tuesday. 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 business’s 50-day simple moving average is $20.56 and its two-hundred day simple moving average is $18.67. The company has a market cap of $4.78 billion, a PE ratio of -7.96 and a beta of 1.06. Dyne Therapeutics, Inc. has a fifty-two week low of $8.88 and a fifty-two week high of $26.12.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.04. During the same period in the previous year, the firm earned ($1.05) earnings per share. Equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.01 EPS for the current year.

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.