Los Angeles Capital Management LLC Buys New Stake in Design Therapeutics, Inc. $DSGN

Los Angeles Capital Management LLC purchased a new position in Design Therapeutics, Inc. (NASDAQ:DSGN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,735 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Velan Capital Investment Management LP acquired a new stake in Design Therapeutics during the first quarter valued at approximately $54,000. Jane Street Group LLC bought a new position in shares of Design Therapeutics during the 1st quarter worth approximately $70,000. Strs Ohio acquired a new stake in Design Therapeutics in the 1st quarter valued at $87,000. American Century Companies Inc. grew its position in Design Therapeutics by 13.5% in the first quarter. American Century Companies Inc. now owns 44,415 shares of the company’s stock valued at $171,000 after acquiring an additional 5,300 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Design Therapeutics in the first quarter valued at $546,000. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Up 2.2%

Design Therapeutics stock opened at $7.59 on Wednesday. The stock has a 50-day simple moving average of $6.52 and a 200 day simple moving average of $5.05. The stock has a market capitalization of $432.33 million, a price-to-earnings ratio of -6.38 and a beta of 1.67. Design Therapeutics, Inc. has a 12-month low of $2.60 and a 12-month high of $7.93.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. As a group, sell-side analysts anticipate that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Analyst Upgrades and Downgrades

DSGN has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Design Therapeutics from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $6.00.

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.