Elmind Capital LP Takes $1.56 Billion Position in Design Therapeutics, Inc. $DSGN

Elmind Capital LP bought a new position in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 107,900 shares of the company’s stock, valued at approximately $1,561,313,000. Elmind Capital LP owned approximately 0.17% of Design Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Torren Management LLC acquired a new position in Design Therapeutics during the 4th quarter valued at about $26,000. State of Wyoming bought a new position in shares of Design Therapeutics in the second quarter valued at approximately $37,000. Legal & General Group Plc bought a new position in shares of Design Therapeutics in the second quarter valued at approximately $43,000. Russell Investments Group Ltd. boosted its position in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after buying an additional 3,033 shares during the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Price Performance

Shares of NASDAQ:DSGN opened at $15.68 on Wednesday. Design Therapeutics, Inc. has a 1 year low of $4.92 and a 1 year high of $17.25. The company has a market capitalization of $981.25 million, a PE ratio of -13.29 and a beta of 1.63. The business has a fifty day moving average price of $13.77 and a two-hundred day moving average price of $12.25.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Sell-side analysts anticipate that Design Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on DSGN. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th. Oppenheimer upped their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Cantor Fitzgerald began coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating for the company. Piper Sandler restated an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

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. 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.