Design Therapeutics (NASDAQ:DSGN) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Design Therapeutics (NASDAQ:DSGN) released its quarterly earnings results on Monday. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.11, FiscalAI reports.

Design Therapeutics Stock Down 3.7%

Shares of NASDAQ:DSGN opened at $9.99 on Wednesday. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $11.14. The stock has a market cap of $569.03 million, a price-to-earnings ratio of -8.19 and a beta of 1.63. The business has a 50-day moving average price of $9.98 and a 200-day moving average price of $8.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DSGN shares. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Oppenheimer started coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada upped their price target on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Design Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Hedge Funds Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP purchased a new position in Design Therapeutics during the 1st quarter worth approximately $2,492,000. Jane Street Group LLC purchased a new stake in shares of Design Therapeutics in the 1st quarter valued at $70,000. Strs Ohio acquired a new stake in shares of Design Therapeutics in the first quarter worth $87,000. Geode Capital Management LLC increased its stake in shares of Design Therapeutics by 2.4% in the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock worth $2,676,000 after acquiring an additional 18,511 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Design Therapeutics by 26.8% during the second 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. Institutional investors and hedge funds own 56.64% of the company’s stock.

About Design Therapeutics

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.