Renaissance Technologies LLC Buys 121,100 Shares of Design Therapeutics, Inc. $DSGN

Renaissance Technologies LLC grew its stake in Design Therapeutics, Inc. (NASDAQ:DSGN) by 42.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,200 shares of the company’s stock after buying an additional 121,100 shares during the period. Renaissance Technologies LLC owned approximately 0.65% of Design Therapeutics worth $4,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of Design Therapeutics during the 4th quarter valued at $26,000. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after acquiring an additional 2,618 shares in the last quarter. Invesco Ltd. grew its position in Design Therapeutics by 26.8% in the second 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. Public Employees Retirement System of Ohio bought a new position in Design Therapeutics in the fourth quarter valued at $67,000. Finally, Jane Street Group LLC bought a new position in Design Therapeutics in the first quarter valued at $70,000. Institutional investors own 56.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several 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. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. Oppenheimer raised their price objective on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report 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. Finally, Cantor Fitzgerald began coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued 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.

Design Therapeutics Stock Up 1.5%

Shares of NASDAQ:DSGN opened at $13.77 on Friday. The stock has a market cap of $861.73 million, a PE ratio of -11.67 and a beta of 1.63. The company’s fifty day moving average is $12.64 and its 200 day moving average is $11.80. Design Therapeutics, Inc. has a 52 week low of $3.95 and a 52 week high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. Sell-side analysts anticipate that Design Therapeutics, Inc. will post -1.42 EPS for the current year.

Design Therapeutics 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.