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

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

Design Therapeutics Stock Performance

Shares of Design Therapeutics stock opened at $13.20 on Wednesday. The firm has a 50-day moving average of $12.53 and a 200-day moving average of $11.74. The stock has a market cap of $824.47 million, a PE ratio of -11.00 and a beta of 1.63. Design Therapeutics has a 52-week low of $3.90 and a 52-week high of $17.25.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Vivo Capital LLC bought a new stake in Design Therapeutics in the 4th quarter valued at about $15,129,000. RA Capital Management L.P. increased its holdings in shares of Design Therapeutics by 207.2% during the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock worth $13,708,000 after purchasing an additional 985,682 shares during the period. Geode Capital Management LLC raised its position 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 valued at $2,676,000 after buying an additional 18,511 shares in the last quarter. State Street Corp raised its position in shares of Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after buying an additional 13,239 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Design Therapeutics in the first quarter valued at approximately $2,492,000. 56.64% of the stock is owned by institutional investors.

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.