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

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

Design Therapeutics Stock Up 3.2%

Design Therapeutics stock traded up $0.32 during trading on Monday, reaching $10.37. The stock had a trading volume of 163,250 shares, compared to its average volume of 246,452. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $11.14. The stock has a market cap of $590.72 million, a PE ratio of -8.71 and a beta of 1.63. The business has a 50 day moving average price of $9.96 and a 200 day moving average price of $8.19.

Analyst Ratings Changes

Several brokerages recently weighed in on DSGN. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Oppenheimer began coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price target for the company. 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 note on Thursday, November 20th. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Design Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vivo Capital LLC purchased a new stake in shares of Design Therapeutics during the 4th quarter worth $15,129,000. RA Capital Management L.P. increased its holdings in Design Therapeutics by 207.2% in the fourth 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 during the last quarter. Woodline Partners LP acquired a new stake in Design Therapeutics in the first quarter valued at $2,492,000. Invesco Ltd. lifted its holdings in Design Therapeutics by 1,995.8% during the 4th quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock worth $2,868,000 after buying an additional 291,168 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Design Therapeutics during the 4th quarter worth about $2,115,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

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.