Design Therapeutics (NASDAQ:DSGN) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Design Therapeutics (NASDAQ:DSGN) issued its earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02, FiscalAI reports.

Design Therapeutics Stock Up 4.8%

Shares of NASDAQ DSGN opened at $12.76 on Tuesday. Design Therapeutics has a twelve month low of $3.85 and a twelve month high of $17.25. The firm has a fifty day simple moving average of $12.50 and a 200 day simple moving average of $11.72. The company has a market capitalization of $796.99 million, a PE ratio of -10.63 and a beta of 1.63.

Institutional Trading of Design Therapeutics

A number of large investors have recently bought and sold shares of DSGN. Invesco Ltd. boosted 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 valued at $48,000 after purchasing an additional 3,033 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Design Therapeutics by 69.6% in the third 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 period. Public Employees Retirement System of Ohio bought a new position in shares of Design Therapeutics during the 4th quarter worth approximately $67,000. Jane Street Group LLC acquired a new stake in shares of Design Therapeutics during the 1st quarter worth approximately $70,000. Finally, Bank of America Corp DE grew its position in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after buying an additional 2,459 shares during the period. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Cantor Fitzgerald initiated coverage on shares of Design Therapeutics in a research report on Tuesday, May 12th. They issued an “overweight” rating for the company. Oppenheimer raised their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

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.