Design Therapeutics (NASDAQ:DSGN) Releases Earnings Results, Misses Expectations 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) released its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02), Zacks reports.

Design Therapeutics Price Performance

Design Therapeutics stock traded down $0.26 during mid-day trading on Thursday, hitting $5.16. 46,955 shares of the company's stock traded hands, compared to its average volume of 116,712. The firm has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $4.09. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $7.77. The stock has a market cap of $293.86 million, a price-to-earnings ratio of -4.61 and a beta of 1.58.

Institutional Investors Weigh In On Design Therapeutics

Several hedge funds have recently added to or reduced their stakes in DSGN. Woodline Partners LP acquired a new stake in shares of Design Therapeutics during the first quarter worth $2,492,000. Strs Ohio acquired a new stake in shares of Design Therapeutics during the first quarter worth $87,000. Geode Capital Management LLC lifted its holdings in shares of Design Therapeutics by 2.4% during the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company's stock worth $2,676,000 after buying an additional 18,511 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Design Therapeutics during the first quarter worth $70,000. Finally, Invesco Ltd. lifted its holdings in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company's stock worth $48,000 after buying an additional 3,033 shares in the last quarter. Institutional investors and hedge funds own 56.64% of the company's stock.

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.