2,001,282 Shares in Design Therapeutics, Inc. $DSGN Bought by Trails Edge Capital Partners LP

Trails Edge Capital Partners LP purchased a new stake in Design Therapeutics, Inc. (NASDAQ:DSGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,001,282 shares of the company’s stock, valued at approximately $28,958,550. Design Therapeutics makes up approximately 0.0% of Trails Edge Capital Partners LP’s holdings, making the stock its 7th largest position. Trails Edge Capital Partners LP owned approximately 3.20% of Design Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Elmind Capital LP acquired a new stake in Design Therapeutics in the 2nd quarter valued at approximately $1,561,313. J. Goldman & Co LP purchased a new position in Design Therapeutics during the 2nd quarter valued at about $2,558,000. Canada Pension Plan Investment Board purchased a new position in shares of Design Therapeutics in the second quarter worth $472,000. Legal & General Group Plc purchased a new stake in shares of Design Therapeutics in the 2nd quarter worth approximately $43,000. Finally, Algert Global LLC grew its position in shares of Design Therapeutics by 44.6% during the 2nd quarter. Algert Global LLC now owns 296,085 shares of the company’s stock valued at $4,284,000 after acquiring an additional 91,346 shares during the period. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Price Performance

NASDAQ DSGN traded down $0.14 during mid-day trading on Friday, reaching $15.11. The stock had a trading volume of 820,751 shares, compared to its average volume of 579,917. The company has a fifty day moving average price of $13.90 and a 200 day moving average price of $12.32. Design Therapeutics, Inc. has a 1 year low of $5.24 and a 1 year high of $17.25. The stock has a market cap of $945.58 million, a PE ratio of -12.80 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate 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.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DSGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Oppenheimer upped their price target 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. Finally, Cantor Fitzgerald initiated coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

About Design Therapeutics

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.