Design Therapeutics, Inc. $DSGN Shares Acquired by Algert Global LLC

Key Points

• Algert Global increased its Design Therapeutics stake by 44.6% in the second quarter, buying 91,346 additional shares to own 296,085 shares, or 0.47% of the company. Institutional investors collectively hold 56.64% of DSGN.
• Design Therapeutics shares opened at $15.25, down 2.2%, with a 52-week range of $5.09 to $17.25. The company reported a quarterly loss of $0.32 per share, narrowly beating analysts’ estimate of a $0.34 loss.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $16.50; Oppenheimer raised its target to $21 and rated the shares “outperform.”

Algert Global LLC grew its stake in Design Therapeutics, Inc. (NASDAQ:DSGN - Free Report) by 44.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,085 shares of the company's stock after buying an additional 91,346 shares during the period. Algert Global LLC owned 0.47% of Design Therapeutics worth $4,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC increased its holdings in shares of Design Therapeutics by 4.8% in the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company's stock valued at $226,000 after purchasing an additional 969 shares during the period. Bank of America Corp DE lifted its position in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company's stock valued at $83,000 after acquiring an additional 2,459 shares during the period. State of Wyoming purchased a new stake in Design Therapeutics during the second quarter worth $37,000. Strs Ohio increased its holdings in Design Therapeutics by 11.5% during the 4th quarter. Strs Ohio now owns 25,200 shares of the company's stock valued at $236,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock worth $48,000 after purchasing an additional 2,618 shares during the last quarter. Hedge funds and other institutional investors own 56.64% of the company's stock.

Design Therapeutics Stock Down 2.2%

Shares of NASDAQ DSGN opened at $15.25 on Friday. Design Therapeutics, Inc. has a 52-week low of $5.09 and a 52-week high of $17.25. The stock has a market capitalization of $954.35 million, a P/E ratio of -12.92 and a beta of 1.63. The firm's 50-day moving average price is $13.90 and its two-hundred day moving average price is $12.32.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.02. As a group, equities research analysts expect that Design Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DSGN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald started coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an "overweight" rating for the company. Wall Street Zen upgraded Design Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Finally, Oppenheimer increased their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.50.

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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