Frazier Life Sciences Management L.P. Sells 1,432,547 Shares of Design Therapeutics, Inc. $DSGN

Frazier Life Sciences Management L.P. trimmed its position in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) by 73.3% during the fourth quarter, HoldingsChannel reports. The firm owned 521,000 shares of the company’s stock after selling 1,432,547 shares during the quarter. Frazier Life Sciences Management L.P.’s holdings in Design Therapeutics were worth $4,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DSGN. Woodline Partners LP acquired a new position in shares of Design Therapeutics in the 1st quarter valued at $2,492,000. Jane Street Group LLC acquired a new position in shares of Design Therapeutics in the 1st quarter valued at $70,000. Strs Ohio acquired a new position in shares of Design Therapeutics in the 1st quarter valued at $87,000. Geode Capital Management LLC grew its holdings in shares of Design Therapeutics by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after buying an additional 18,511 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Design Therapeutics by 26.8% in the 2nd 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 period. Institutional investors and hedge funds own 56.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DSGN shares. Oppenheimer boosted 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. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Cantor Fitzgerald started coverage on Design Therapeutics in a research report on Tuesday, May 12th. They issued an “overweight” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group started coverage on Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Stock Performance

Shares of DSGN opened at $10.97 on Friday. The firm has a market capitalization of $685.19 million, a PE ratio of -9.14 and a beta of 1.63. The stock has a 50 day simple moving average of $12.30 and a 200 day simple moving average of $10.75. Design Therapeutics, Inc. has a 52-week low of $3.33 and a 52-week high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. Equities research analysts predict that Design Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

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. 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.