Frazier Life Sciences Management L.P. Has $4.89 Million Stock Holdings in Design Therapeutics, Inc. $DSGN

Frazier Life Sciences Management L.P. cut its holdings in Design Therapeutics, Inc. (NASDAQ:DSGN) by 73.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 521,000 shares of the company’s stock after selling 1,432,547 shares during the quarter. Frazier Life Sciences Management L.P. owned approximately 0.91% of Design Therapeutics worth $4,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vivo Capital LLC acquired a new stake in shares of Design Therapeutics in the fourth quarter valued at $15,129,000. Geode Capital Management LLC increased its stake in shares of Design Therapeutics by 2.4% in the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after buying an additional 18,511 shares in the last quarter. State Street Corp increased its stake in shares of Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after buying an additional 13,239 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Design Therapeutics in the first quarter valued at $2,492,000. Finally, RA Capital Management L.P. acquired a new stake in shares of Design Therapeutics in the third quarter valued at $3,582,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Stock Up 4.2%

Shares of DSGN stock opened at $10.97 on Friday. The stock has a 50-day moving average price of $12.30 and a 200 day moving average price of $10.75. The firm has a market cap of $685.19 million, a price-to-earnings ratio of -9.14 and a beta of 1.63. Design Therapeutics, Inc. has a 12 month low of $3.33 and a 12 month high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. Sell-side analysts predict that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on DSGN shares. Cantor Fitzgerald started coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Jefferies Financial Group assumed coverage on Design Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $15.00 target price for the company. Oppenheimer lifted their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. One research 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 stock. Based on data from MarketBeat.com, Design Therapeutics has an average rating of “Moderate Buy” and an average target price 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.