Almitas Capital LLC Acquires New Shares in Design Therapeutics, Inc. $DSGN

Key Points

• Almitas Capital acquired 1,026,893 shares of Design Therapeutics, valued at approximately $14.9 million, making DSGN its fifth-largest holding and representing about 1.64% of the company.
• Institutional investors and hedge funds own 56.64% of DSGN. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $16.50.
• DSGN recently traded at $15.59, near its 52-week high of $17.25, and reported a quarterly loss of $0.32 per share—$0.02 better than analysts expected.

Almitas Capital LLC acquired a new position in shares of Design Therapeutics, Inc. (NASDAQ:DSGN - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,026,893 shares of the company's stock, valued at approximately $14,859,000. Design Therapeutics comprises 3.6% of Almitas Capital LLC's holdings, making the stock its 5th biggest position. Almitas Capital LLC owned about 1.64% of Design Therapeutics at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Corient Private Wealth LP bought a new position in shares of Design Therapeutics during the second quarter worth about $393,000. Bank of America Corp DE bought a new stake in Design Therapeutics in the 2nd quarter valued at about $633,000. Trails Edge Capital Partners LP acquired a new position in Design Therapeutics during the 2nd quarter valued at about $28,958,550,000. Elmind Capital LP acquired a new position in Design Therapeutics during the 2nd quarter valued at about $1,561,313,000. Finally, J. Goldman & Co LP acquired a new position in Design Therapeutics during the 2nd quarter valued at about $2,558,000. 56.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Design Therapeutics in a research note on Friday, July 17th. Oppenheimer increased their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Cantor Fitzgerald started coverage on Design Therapeutics in a report on Tuesday, May 12th. They issued an "overweight" rating for the company. Piper Sandler restated an "overweight" rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised Design Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

Design Therapeutics Stock Performance

DSGN opened at $15.59 on Thursday. The company has a market capitalization of $975.62 million, a PE ratio of -13.21 and a beta of 1.63. The stock's fifty day moving average is $13.85 and its 200-day moving average is $12.29. Design Therapeutics, Inc. has a one year low of $5.04 and a one year high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. On average, equities research analysts forecast that Design Therapeutics, Inc. will post -1.41 EPS for the current fiscal 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.

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