Design Therapeutics (NASDAQ:DSGN) Announces Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Design Therapeutics reported a quarterly earnings per share (EPS) of ($0.34), missing analysts' estimates by $0.02.
• The company's stock has increased by 7.8%, opening at $4.28 with a market capitalization of approximately $242.98 million.
• Hedge funds own 56.64% of Design Therapeutics, with recent acquisitions highlighting growing institutional interest in the stock.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.02), Zacks reports.

Design Therapeutics Trading Up 7.8%

Shares of DSGN opened at $4.28 on Friday. Design Therapeutics has a 1-year low of $2.60 and a 1-year high of $7.77. The business's 50-day moving average price is $3.93 and its 200 day moving average price is $4.09. The stock has a market capitalization of $242.98 million, a P/E ratio of -3.82 and a beta of 1.58.

Institutional Trading of Design Therapeutics

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Design Therapeutics during the 1st quarter valued at about $70,000. Strs Ohio acquired a new stake in Design Therapeutics in the 1st quarter worth approximately $87,000. Woodline Partners LP acquired a new stake in Design Therapeutics in the 1st quarter worth approximately $2,492,000. Finally, Geode Capital Management LLC lifted its holdings in Design Therapeutics by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company's stock worth $2,676,000 after purchasing an additional 18,511 shares during the last quarter. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.

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