SCHEDULE 13G/A: RA Capital Management Discloses 8.5% Stake in Dyne Therapeutics

RA Capital Management, L.P. and its affiliates have disclosed a beneficial ownership of 8.5% in Dyne Therapeutics, Inc., holding 9,714,392 shares of common stock as of March 31, 2025.

Summary

• RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, and RA Capital Healthcare Fund, L.P. (collectively, the "Reporting Persons") have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Dyne Therapeutics, Inc.
• As of March 31, 2025, the Reporting Persons collectively beneficially own 9,714,392 shares of Dyne Therapeutics, Inc. Common Stock.
• This ownership represents 8.5% of the Issuer's outstanding Common Stock.
• The percentage is calculated based on 113,633,782 shares of Common Stock outstanding as of April 4, 2025, as reported in Dyne Therapeutics' Definitive Proxy Statement on Schedule 14A filed on April 15, 2025.
• RA Capital Management, L.P. serves as the investment adviser for RA Capital Healthcare Fund, L.P., which directly holds the shares.
• Peter Kolchinsky and Rajeev Shah are controlling persons of RA Capital Management GP, LLC, the general partner of RA Capital Management, L.P.
• The Reporting Persons disclaim status as a "group" for purposes of Schedule 13G and disclaim beneficial ownership of the securities for any purpose other than determining their obligations under Section 13(d) of the Act.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the issuer's performance or outlook.

Risks

• The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G, indicating they are not acting in concert to influence control of the issuer.
• RA Capital, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of the reported securities other than for the purpose of determining their obligations under Section 13(d) of the Act, meaning the filing does not imply beneficial ownership for other purposes.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Dyne Therapeutics' future operations or financial performance.

Industry Context

This filing indicates a significant passive investment by RA Capital Management, a prominent healthcare-focused investment firm, in Dyne Therapeutics, a biotechnology company. Such disclosures are common for institutional investors holding substantial stakes in public companies, particularly within the high-growth biotechnology sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake in the company, which can influence market perception and trading activity.

Key Dates

Keywords

Dyne Therapeutics, RA Capital Management, Beneficial Ownership, Schedule 13G, Common Stock, SEC Filing, Institutional Investor, Biotechnology, Healthcare Investment