Design Therapeutics (NASDAQ:DSGN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Posted by on Mar 12th, 2022

Design Therapeutics (NASDAQ:DSGN – Get Rating) posted its quarterly earnings data on Thursday. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03, MarketWatch Earnings reports.

DSGN opened at $17.25 on Friday. The business has a 50 day simple moving average of $14.71 and a 200-day simple moving average of $16.13. Design Therapeutics has a 12 month low of $10.37 and a 12 month high of $50.50.

Separately, The Goldman Sachs Group assumed coverage on Design Therapeutics in a research report on Wednesday, January 19th. They set a “sell” rating and a $10.00 price objective for the company.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in Design Therapeutics by 93.0% in the 4th quarter. Legal & General Group Plc now owns 2,463 shares of the company’s stock valued at $53,000 after purchasing an additional 1,187 shares in the last quarter. Morgan Stanley increased its stake in Design Therapeutics by 1,044.4% in the 3rd quarter. Morgan Stanley now owns 7,404 shares of the company’s stock valued at $108,000 after purchasing an additional 6,757 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Design Therapeutics in the 4th quarter valued at approximately $172,000. Invesco Ltd. purchased a new position in Design Therapeutics during the fourth quarter worth $206,000. Finally, Millennium Management LLC purchased a new position in Design Therapeutics during the third quarter worth $208,000. 50.76% of the stock is owned by institutional investors and hedge funds.

About Design Therapeutics (Get Rating)

Design Therapeutics, Inc develops therapies for the treatment of degenerative disorders caused by nucleotide repeat expansions. The company engages in the development of a program for the treatment of Friedreich's ataxia and degenerative diseases such as Fragile X syndrome and myotonic dystrophy.

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