Point72 Asset Management L.P. Buys 397,285 Shares of Design Therapeutics, Inc. (NASDAQ:DSGN)

Point72 Asset Management L.P. increased its stake in Design Therapeutics, Inc. (NASDAQ:DSGN) by 66.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 990,801 shares of the company’s stock after purchasing an additional 397,285 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.75% of Design Therapeutics worth $3,319,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DSGN. Vanguard Group Inc. lifted its stake in shares of Design Therapeutics by 29.0% in the first quarter. Vanguard Group Inc. now owns 1,285,962 shares of the company’s stock worth $5,182,000 after buying an additional 288,803 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Design Therapeutics by 123.3% in the 1st quarter. Acadian Asset Management LLC now owns 403,546 shares of the company’s stock worth $1,625,000 after acquiring an additional 222,805 shares during the period. Pale Fire Capital SE bought a new position in Design Therapeutics in the 4th quarter worth $28,000. Almitas Capital LLC lifted its position in Design Therapeutics by 22.1% during the 2nd quarter. Almitas Capital LLC now owns 1,253,248 shares of the company’s stock worth $4,198,000 after acquiring an additional 227,180 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in Design Therapeutics during the first quarter valued at about $46,000. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Price Performance

Shares of NASDAQ:DSGN opened at $4.97 on Thursday. Design Therapeutics, Inc. has a one year low of $1.96 and a one year high of $6.91. The stock has a market cap of $280.78 million, a price-to-earnings ratio of -4.73 and a beta of 1.82. The company has a 50 day moving average of $4.98 and a 200-day moving average of $4.24.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Equities research analysts anticipate that Design Therapeutics, Inc. will post -0.94 earnings per share for the current year.

Insider Activity

In other Design Therapeutics news, Director Arsani William sold 814,874 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $4.25, for a total value of $3,463,214.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 31.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price target on shares of Design Therapeutics in a research report on Tuesday, August 6th.

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.