Alliancebernstein L.P. Cuts Holdings in Dyne Therapeutics, Inc. (NASDAQ:DYN)

Alliancebernstein L.P. decreased its position in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 16.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 153,218 shares of the company’s stock after selling 30,993 shares during the period. Alliancebernstein L.P.’s holdings in Dyne Therapeutics were worth $3,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DYN. Norges Bank bought a new stake in shares of Dyne Therapeutics in the 4th quarter worth approximately $22,384,000. Barclays PLC increased its position in Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after buying an additional 128,246 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Dyne Therapeutics in the fourth quarter valued at $2,340,000. Geode Capital Management LLC lifted its position in shares of Dyne Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after buying an additional 84,760 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Dyne Therapeutics by 63.3% during the 4th quarter. Schroder Investment Management Group now owns 147,002 shares of the company’s stock valued at $3,477,000 after buying an additional 56,961 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Insiders Place Their Bets

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 6,237 shares of company stock valued at $77,760. Corporate insiders own 20.77% of the company’s stock.

Wall Street Analyst Weigh In

DYN has been the topic of a number of research reports. BMO Capital Markets assumed coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $46.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Finally, Chardan Capital restated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Stock Up 6.1 %

NASDAQ:DYN opened at $7.47 on Tuesday. The firm’s fifty day simple moving average is $11.70 and its 200 day simple moving average is $21.06. The stock has a market cap of $845.01 million, a P/E ratio of -2.10 and a beta of 1.21. Dyne Therapeutics, Inc. has a twelve month low of $6.36 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS 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.