Design Therapeutics’ (NASDAQ:DSGN) lock-up period will expire on Wednesday, September 22nd. Design Therapeutics had issued 12,000,000 shares in its IPO on March 26th. The total size of the offering was $240,000,000 based on an initial share price of $20.00. After the end of Design Therapeutics’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Separately, Zacks Investment Research raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, July 12th.
Shares of DSGN stock opened at $16.17 on Wednesday. The company has a 50-day moving average of $16.79. Design Therapeutics has a 52-week low of $13.93 and a 52-week high of $50.50.
In related news, Director Arsani William acquired 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The stock was acquired at an average price of $15.45 per share, with a total value of $618,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have recently modified their holdings of DSGN. Pinz Capital Management LP acquired a new position in Design Therapeutics in the 2nd quarter worth about $86,000. Deutsche Bank AG acquired a new position in Design Therapeutics in the 2nd quarter worth about $159,000. JPMorgan Chase & Co. acquired a new position in Design Therapeutics in the 2nd quarter worth about $159,000. New York State Common Retirement Fund acquired a new position in Design Therapeutics in the 2nd quarter worth about $231,000. Finally, Point72 Hong Kong Ltd acquired a new position in Design Therapeutics in the 1st quarter worth about $248,000. 49.70% of the stock is owned by institutional investors and hedge funds.
Design Therapeutics Company Profile
Design Therapeutics, Inc develops therapies for the treatment of degenerative disorders caused by nucleotide repeat expansions. The company engages in the development of a program for the treatment of Friedreich's ataxia and degenerative diseases such as Fragile X syndrome and myotonic dystrophy.
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