Design Therapeutics (NASDAQ:DSGN) Shares Up 1.6% - What's Next?

Key Points

• Design Therapeutics shares rose by 1.6% during trading, closing at $5.83, although the trading volume was down 56% compared to its average volume.
• Wall Street analysts maintain a consensus rating of “Sell” for Design Therapeutics, with Weiss Ratings giving a “sell (d-)” rating on October 8th.
• Institutional investors hold 56.64% of the company's stock, with several firms increasing their positions in the first quarter of the year.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) shot up 1.6% during trading on Monday . The stock traded as high as $5.95 and last traded at $5.83. 88,773 shares changed hands during trading, a decline of 56% from the average session volume of 201,886 shares. The stock had previously closed at $5.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Design Therapeutics Trading Up 1.6%

The company has a market cap of $332.02 million, a price-to-earnings ratio of -5.21 and a beta of 1.68. The firm's fifty day simple moving average is $6.00 and its 200 day simple moving average is $4.58.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, sell-side analysts expect that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Institutional Trading of Design Therapeutics

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of Design Therapeutics by 11.2% during the 1st quarter. Acadian Asset Management LLC now owns 630,953 shares of the company's stock worth $2,434,000 after buying an additional 63,349 shares during the last quarter. Almitas Capital LLC lifted its position in shares of Design Therapeutics by 9.8% during the 1st quarter. Almitas Capital LLC now owns 1,452,896 shares of the company's stock worth $5,608,000 after buying an additional 129,229 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Design Therapeutics during the 1st quarter worth approximately $546,000. Nuveen LLC purchased a new stake in shares of Design Therapeutics during the 1st quarter worth approximately $568,000. Finally, MPM Bioimpact LLC lifted its position in shares of Design Therapeutics by 0.6% during the 1st quarter. MPM Bioimpact LLC now owns 562,943 shares of the company's stock worth $2,173,000 after buying an additional 3,396 shares during the last quarter. Hedge funds and other institutional investors 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.

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