State of New Jersey Common Pension Fund D Makes New Investment in Dyne Therapeutics, Inc. (NASDAQ:DYN)

State of New Jersey Common Pension Fund D bought a new stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 44,197 shares of the company’s stock, valued at approximately $1,588,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DYN. Swiss National Bank lifted its position in Dyne Therapeutics by 41.5% during the first quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $2,419,000 after buying an additional 25,000 shares in the last quarter. Sei Investments Co. purchased a new position in Dyne Therapeutics during the 1st quarter valued at about $693,000. Russell Investments Group Ltd. grew its holdings in shares of Dyne Therapeutics by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 101,943 shares of the company’s stock valued at $2,894,000 after purchasing an additional 1,447 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Dyne Therapeutics by 44.6% in the first quarter. ProShare Advisors LLC now owns 16,307 shares of the company’s stock worth $463,000 after acquiring an additional 5,028 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock valued at $97,669,000 after purchasing an additional 1,110,629 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Insiders Place Their Bets

In related news, CEO John Cox acquired 32,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. The trade was a -133.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard William Scalzo sold 1,390 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the transaction, the senior vice president now directly owns 98,568 shares in the company, valued at approximately $3,405,524.40. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,257 shares of company stock valued at $6,193,718. Insiders own 20.77% of the company’s stock.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $29.34 on Tuesday. The stock has a 50-day simple moving average of $32.42 and a 200-day simple moving average of $35.26. The company has a market capitalization of $2.99 billion, a P/E ratio of -8.24 and a beta of 1.10. Dyne Therapeutics, Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, analysts forecast that Dyne Therapeutics, Inc. will post -3.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DYN. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Stifel Nicolaus lifted their price target on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Guggenheim raised their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Company Profile

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.