Frazier Life Sciences Management L.P. Purchases Shares of 1,809,854 Design Therapeutics, Inc. $DSGN

Key Points

• Frazier Life Sciences Management purchased 1.81 million shares of Design Therapeutics worth approximately $26.2 million, giving it a 2.89% stake and making DSGN its 28th-largest holding.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 56.64% of Design Therapeutics; several firms increased or initiated positions during the first and second quarters.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $16.50 target price. DSGN recently opened at $15.14 after reporting a quarterly loss of $0.32 per share, which was slightly better than estimates.

Frazier Life Sciences Management L.P. purchased a new position in Design Therapeutics, Inc. (NASDAQ:DSGN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,809,854 shares of the company's stock, valued at approximately $26,189,000. Design Therapeutics comprises approximately 0.6% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 28th largest position. Frazier Life Sciences Management L.P. owned 2.89% of Design Therapeutics at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DSGN. Woodline Partners LP purchased a new position in Design Therapeutics in the 1st quarter worth $2,492,000. Jane Street Group LLC purchased a new stake in Design Therapeutics in the first quarter valued at approximately $70,000. Strs Ohio acquired a new position in Design Therapeutics in the 1st quarter worth approximately $87,000. Geode Capital Management LLC raised its position in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company's stock worth $2,676,000 after buying an additional 18,511 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company's stock valued at $48,000 after acquiring an additional 3,033 shares during the last quarter. 56.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DSGN. Cantor Fitzgerald assumed coverage on shares of Design Therapeutics in a research report on Tuesday, May 12th. They set an "overweight" rating for the company. Wall Street Zen raised Design Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a report on Friday, July 17th. One investment 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 company's stock. According to data from MarketBeat.com, Design Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $16.50.

Design Therapeutics Price Performance

DSGN opened at $15.14 on Monday. The firm's fifty day simple moving average is $14.12 and its two-hundred day simple moving average is $12.53. Design Therapeutics, Inc. has a 52-week low of $5.28 and a 52-week high of $17.25. The company has a market cap of $947.46 million, a price-to-earnings ratio of -12.83 and a beta of 1.66.

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