Design Therapeutics (NASDAQ:DSGN) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Design Therapeutics (NASDAQ:DSGN) issued its quarterly earnings results on Monday. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.10, FiscalAI reports.

Design Therapeutics Trading Up 3.2%

Shares of NASDAQ DSGN traded up $0.32 during midday trading on Monday, reaching $10.37. The company’s stock had a trading volume of 163,251 shares, compared to its average volume of 247,089. Design Therapeutics has a one year low of $2.60 and a one year high of $11.14. The company has a market cap of $590.72 million, a price-to-earnings ratio of -8.71 and a beta of 1.63. The company has a 50 day moving average price of $9.96 and a 200 day moving average price of $8.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DSGN. Russell Investments Group Ltd. boosted its stake in shares of Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after acquiring an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Design Therapeutics during the fourth quarter worth $67,000. Engineers Gate Manager LP acquired a new stake in shares of Design Therapeutics during the fourth quarter worth $131,000. Invesco Ltd. increased its stake in Design Therapeutics by 26.8% in 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 in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Design Therapeutics by 47.8% during the 4th quarter. MetLife Investment Management LLC now owns 15,249 shares of the company’s stock worth $143,000 after buying an additional 4,929 shares during the period. Institutional investors own 56.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DSGN. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $13.00 in a research report on Thursday, November 20th. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Craig Hallum assumed coverage on Design Therapeutics in a research note on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. One investment 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 stock. According to data from MarketBeat.com, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

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.