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

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

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $12.18 on Monday. Design Therapeutics has a 52 week low of $3.76 and a 52 week high of $17.25. The company has a market capitalization of $760.76 million, a price-to-earnings ratio of -10.15 and a beta of 1.63. The company has a 50-day simple moving average of $12.46 and a 200 day simple moving average of $11.70.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vivo Capital LLC acquired a new stake in Design Therapeutics during the 4th quarter worth approximately $15,129,000. RA Capital Management L.P. grew its holdings in Design Therapeutics by 207.2% in the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after buying an additional 985,682 shares in the last quarter. Geode Capital Management LLC increased its position in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock worth $2,676,000 after buying an additional 18,511 shares during the period. State Street Corp increased its position in Design Therapeutics by 2.1% during the 4th quarter. State Street Corp now owns 647,636 shares of the company’s stock worth $6,075,000 after buying an additional 13,239 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of Design Therapeutics during the first quarter worth $2,492,000. 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.