Baker BROS. Advisors LP Raises Holdings in Design Therapeutics, Inc. $DSGN

Baker BROS. Advisors LP raised its holdings in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) by 30.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,233,099 shares of the company’s stock after acquiring an additional 520,217 shares during the quarter. Baker BROS. Advisors LP’s holdings in Design Therapeutics were worth $20,946,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DSGN. DLD Asset Management LP bought a new position in Design Therapeutics during the third quarter valued at approximately $376,000. China Universal Asset Management Co. Ltd. raised its position in Design Therapeutics by 206.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 34,982 shares of the company’s stock worth $263,000 after acquiring an additional 23,580 shares during the period. Jane Street Group LLC bought a new position in Design Therapeutics in the first quarter worth approximately $70,000. Public Employees Retirement System of Ohio purchased a new stake in Design Therapeutics in the 4th quarter worth approximately $67,000. Finally, Invesco Ltd. increased its holdings 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 acquiring an additional 3,033 shares in the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DSGN has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $15.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating for the company. Oppenheimer increased 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, Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Stock Up 11.3%

NASDAQ DSGN opened at $11.93 on Thursday. The firm has a market cap of $745.15 million, a price-to-earnings ratio of -9.94 and a beta of 1.63. The business has a 50-day moving average price of $12.27 and a 200-day moving average price of $10.80. Design Therapeutics, Inc. has a twelve month low of $3.33 and a twelve month high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. Research analysts expect that Design Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

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.