Federated Hermes Inc. Boosts Stock Holdings in Design Therapeutics, Inc. (NASDAQ:DSGN)

Federated Hermes Inc. lifted its stake in Design Therapeutics, Inc. (NASDAQ:DSGN) by 317.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,999 shares of the company’s stock after buying an additional 9,126 shares during the period. Federated Hermes Inc.’s holdings in Design Therapeutics were worth $32,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BML Capital Management LLC bought a new position in Design Therapeutics during the 4th quarter worth approximately $2,728,000. Barclays PLC increased its stake in shares of Design Therapeutics by 353.1% in the third quarter. Barclays PLC now owns 71,678 shares of the company’s stock worth $170,000 after buying an additional 55,858 shares during the period. RTW Investments LP raised its holdings in Design Therapeutics by 60.8% during the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock valued at $5,931,000 after buying an additional 949,955 shares during the last quarter. Algert Global LLC boosted its position in Design Therapeutics by 83.3% during the 3rd quarter. Algert Global LLC now owns 35,620 shares of the company’s stock valued at $84,000 after buying an additional 16,190 shares during the period. Finally, Jump Financial LLC boosted its position in Design Therapeutics by 284.7% during the 3rd quarter. Jump Financial LLC now owns 46,700 shares of the company’s stock valued at $110,000 after buying an additional 34,561 shares during the period. Institutional investors own 56.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DSGN. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Design Therapeutics in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Finally, Piper Sandler raised Design Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $12.00 in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Design Therapeutics has an average rating of “Hold” and an average price target of $6.60.

Design Therapeutics Stock Performance

DSGN stock opened at $4.69 on Wednesday. The company has a market capitalization of $264.94 million, a price-to-earnings ratio of -3.91 and a beta of 1.83. The business’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $2.74. Design Therapeutics, Inc. has a fifty-two week low of $1.94 and a fifty-two week high of $8.47.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. Sell-side analysts forecast that Design Therapeutics, Inc. will post -1.26 earnings per share for the current year.

Insider Buying and Selling

In other Design Therapeutics news, Director John P. Schmid bought 17,809 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $3.74 per share, with a total value of $66,605.66. Following the completion of the purchase, the director now owns 26,965 shares of the company’s stock, valued at $100,849.10. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director John P. Schmid purchased 9,156 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $3.62 per share, for a total transaction of $33,144.72. Following the purchase, the director now directly owns 9,156 shares in the company, valued at approximately $33,144.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Schmid acquired 17,809 shares of Design Therapeutics stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $3.74 per share, with a total value of $66,605.66. Following the completion of the purchase, the director now owns 26,965 shares in the company, valued at approximately $100,849.10. The disclosure for this purchase can be found here. 25.70% of the stock is currently owned by insiders.

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.