Design Therapeutics, Inc. Forecasted to Earn Q2 2022 Earnings of ($0.26) Per Share (NASDAQ:DSGN)

Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) – Stock analysts at SVB Leerink dropped their Q2 2022 earnings per share (EPS) estimates for Design Therapeutics in a research report issued on Monday, May 9th. SVB Leerink analyst J. Schwartz now expects that the company will post earnings of ($0.26) per share for the quarter, down from their previous estimate of ($0.25). SVB Leerink also issued estimates for Design Therapeutics’ Q3 2022 earnings at ($0.31) EPS, FY2022 earnings at ($1.17) EPS and FY2023 earnings at ($1.72) EPS.

Several other research firms also recently weighed in on DSGN. Royal Bank of Canada assumed coverage on shares of Design Therapeutics in a research report on Monday, May 2nd. They issued an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of Design Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday. Finally, The Goldman Sachs Group started coverage on Design Therapeutics in a research report on Wednesday, January 19th. They issued a “sell” rating and a $10.00 target price on the stock.

DSGN opened at $9.91 on Thursday. Design Therapeutics has a 52-week low of $9.80 and a 52-week high of $28.49. The firm has a market capitalization of $551.99 million, a P/E ratio of -11.53 and a beta of 2.09. The firm’s 50 day moving average is $15.38 and its 200-day moving average is $16.04.

Design Therapeutics (NASDAQ:DSGN – Get Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02).

In other Design Therapeutics news, Director Stella Xu sold 565,425 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $19.07, for a total value of $10,782,654.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arsani William bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The shares were bought at an average price of $18.99 per share, with a total value of $474,750.00. The disclosure for this purchase can be found here.

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Design Therapeutics by 93.0% during the 4th quarter. Legal & General Group Plc now owns 2,463 shares of the company’s stock worth $53,000 after purchasing an additional 1,187 shares during the last quarter. Piper Sandler & CO. acquired a new stake in Design Therapeutics in the 3rd quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in shares of Design Therapeutics in the fourth quarter worth $121,000. Morgan Stanley lifted its position in Design Therapeutics by 1,044.4% during the 3rd quarter. Morgan Stanley now owns 7,404 shares of the company’s stock worth $108,000 after buying an additional 6,757 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new position in Design Therapeutics during the fourth quarter valued at approximately $172,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Company Profile (Get Rating)

Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.

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