Elmind Capital LP Purchases New Stake in Design Therapeutics, Inc. $DSGN

Elmind Capital LP purchased a new stake in Design Therapeutics, Inc. (NASDAQ:DSGN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 107,900 shares of the company's stock, valued at approximately $1,561,313. Elmind Capital LP owned approximately 0.17% of Design Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DSGN. BlackRock Inc. acquired a new position in shares of Design Therapeutics in the 2nd quarter valued at approximately $38,491,000. Vivo Capital LLC bought a new position in shares of Design Therapeutics in the fourth quarter valued at approximately $15,129,000. RA Capital Management L.P. lifted its holdings in shares of Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company's stock worth $13,708,000 after buying an additional 985,682 shares in the last quarter. Woodline Partners LP purchased a new stake in Design Therapeutics during the first quarter valued at about $2,492,000. Finally, Baker BROS. Advisors LP lifted its holdings in shares of Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company's stock valued at $20,946,000 after purchasing an additional 520,217 shares during the last quarter. Institutional investors own 56.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Design Therapeutics Price Performance

NASDAQ:DSGN traded down $0.04 during trading hours on Friday, hitting $15.21. The stock had a trading volume of 598,703 shares, compared to its average volume of 579,794. The company has a 50 day simple moving average of $13.90 and a two-hundred day simple moving average of $12.32. Design Therapeutics, Inc. has a one year low of $5.24 and a one year high of $17.25. The firm has a market capitalization of $951.84 million, a price-to-earnings ratio of -12.89 and a beta of 1.63.

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