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

Trails Edge Capital Partners LP acquired a new position in Design Therapeutics, Inc. (NASDAQ:DSGN) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,001,282 shares of the company’s stock, valued at approximately $28,958,550,000. Design Therapeutics makes up 4.6% of Trails Edge Capital Partners LP’s holdings, making the stock its 7th biggest holding. Trails Edge Capital Partners LP owned 3.20% of Design Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in shares of Design Therapeutics during the fourth quarter valued at about $26,000. State of Wyoming acquired a new position in shares of Design Therapeutics in the second quarter worth about $37,000. Legal & General Group Plc acquired a new position in shares of Design Therapeutics in the second quarter worth about $43,000. Russell Investments Group Ltd. boosted its holdings in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing 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 Analysts Forecast Growth

A number of equities research analysts have weighed in on DSGN shares. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Oppenheimer increased their target price on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Piper Sandler reissued an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a research report on Wednesday, April 29th. 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Stock Up 3.0%

DSGN opened at $15.68 on Wednesday. The company’s 50-day moving average price is $13.77 and its 200 day moving average price is $12.25. Design Therapeutics, Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.25. The firm has a market cap of $981.25 million, a price-to-earnings ratio of -13.29 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. 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.