Design Therapeutics (NASDAQ:DSGN) Posts Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Design Therapeutics reported an adjusted loss of $0.29 EPS for the quarter, beating analysts' consensus of ($0.36) by $0.07.
• Wall Street shows mixed but generally positive sentiment with a consensus rating of “Moderate Buy” and a consensus price target of $15.20, while individual reports range from sell to outperform (Oppenheimer $18 PT, Jefferies buy $15).
• Institutional interest is significant — hedge funds and institutions own 56.64% of the company, with several managers (Russell, Kennedy, JPMorgan) recently increasing or initiating positions.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.29) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.07, Zacks reports.

Design Therapeutics Trading Up 0.2%

Design Therapeutics stock traded up $0.02 during mid-day trading on Tuesday, reaching $12.83. The company's stock had a trading volume of 121,651 shares, compared to its average volume of 285,483. The firm has a market cap of $801.29 million, a price-to-earnings ratio of -10.52 and a beta of 1.57. The business has a 50 day moving average price of $11.16 and a 200-day moving average price of $9.56. Design Therapeutics has a twelve month low of $3.11 and a twelve month high of $13.54.

Wall Street Analysts Forecast Growth

DSGN has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They set a "buy" rating and a $15.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research report on Monday, April 20th. Royal Bank Of Canada raised their price target on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Wall Street Zen raised shares of Design Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Oppenheimer started coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an "outperform" rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.

Hedge Funds Weigh In On Design Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Design Therapeutics by 295.7% in the fourth quarter. Russell Investments Group Ltd. now owns 25,234 shares of the company's stock worth $237,000 after purchasing an additional 18,857 shares during the period. Kennedy Capital Management LLC boosted its holdings in shares of Design Therapeutics by 95.9% during the third quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company's stock valued at $221,000 after acquiring an additional 14,401 shares during the period. Virtu Financial LLC acquired a new position in shares of Design Therapeutics during the fourth quarter valued at $212,000. AlphaCentric Advisors LLC acquired a new position in shares of Design Therapeutics during the fourth quarter valued at $190,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Design Therapeutics by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company's stock valued at $175,000 after acquiring an additional 4,896 shares during the period. Institutional investors and hedge funds own 56.64% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.