Elmind Capital LP Makes New Investment in Design Therapeutics, Inc. $DSGN

Elmind Capital LP acquired a new position in Design Therapeutics, Inc. (NASDAQ:DSGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 207,900 shares of the company’s stock, valued at approximately $1,950,000. Design Therapeutics accounts for 0.6% of Elmind Capital LP’s holdings, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Torren Management LLC purchased a new stake in Design Therapeutics in the 4th quarter worth approximately $26,000. Invesco Ltd. raised its position in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after acquiring an additional 3,033 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after acquiring an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Design Therapeutics in the 4th quarter worth approximately $67,000. Finally, Jane Street Group LLC bought a new position in shares of Design Therapeutics in the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Up 11.3%

DSGN stock opened at $11.93 on Thursday. Design Therapeutics, Inc. has a twelve month low of $3.33 and a twelve month high of $17.25. The firm has a market cap of $745.15 million, a PE ratio of -9.94 and a beta of 1.63. The business has a 50 day moving average of $12.27 and a 200 day moving average of $10.80.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, research analysts expect that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

DSGN has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Design Therapeutics in a research report on Monday, March 16th. They set a “buy” rating and a $15.00 price objective for the company. Royal Bank Of Canada raised their price objective on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Cantor Fitzgerald initiated coverage on Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating for the company. Oppenheimer raised their price objective on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Design Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Design Therapeutics Company 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. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.