Design Therapeutics (NASDAQ:DSGN) Announces Earnings Results

Design Therapeutics (NASDAQ:DSGN) posted its earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.11, FiscalAI reports.

Design Therapeutics Price Performance

Shares of NASDAQ:DSGN traded down $0.42 during midday trading on Tuesday, reaching $9.95. 31,798 shares of the company’s stock were exchanged, compared to its average volume of 242,803. The stock has a market cap of $566.81 million, a price-to-earnings ratio of -8.36 and a beta of 1.63. The firm’s 50 day simple moving average is $9.97 and its two-hundred day simple moving average is $8.23. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $11.14.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DSGN shares. Craig Hallum assumed coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Oppenheimer assumed coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price for the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Institutional Trading of Design Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Design Therapeutics during the fourth quarter worth $67,000. Jane Street Group LLC acquired a new position in shares of Design Therapeutics in the first quarter worth $70,000. Finally, Bank of America Corp DE lifted its position in shares of Design Therapeutics by 11.1% in the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after acquiring an additional 2,459 shares in the last quarter. Hedge funds and other institutional investors own 56.64% of the company’s stock.

Design Therapeutics Company Profile

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.