Elmind Capital LP Makes New Investment in Design Therapeutics, Inc. $DSGN

Elmind Capital LP acquired a new stake in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 107,900 shares of the company’s stock, valued at approximately $1,561,313,000.

Several other large investors have also recently bought and sold shares of DSGN. Torren Management LLC bought a new stake in shares of Design Therapeutics during the 4th quarter valued at about $26,000. State of Wyoming bought a new position in shares of Design Therapeutics in the second quarter worth approximately $37,000. Legal & General Group Plc purchased a new stake in Design Therapeutics in the second quarter valued at approximately $43,000. Russell Investments Group Ltd. raised 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 purchasing an additional 2,618 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares during the last quarter. 56.64% of the stock is owned by institutional investors.

Design Therapeutics Trading Up 3.0%

NASDAQ DSGN opened at $15.68 on Wednesday. Design Therapeutics, Inc. has a 1-year low of $4.92 and a 1-year high of $17.25. The stock has a 50-day moving average of $13.77 and a 200-day moving average of $12.25. The firm has a market cap of $981.25 million, a PE ratio of -13.29 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. As a group, equities research analysts forecast that Design Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DSGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Oppenheimer increased their target price on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald assumed coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an “overweight” rating on the stock. One 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 has a consensus rating of “Moderate Buy” and an average target price 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.