Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) – SVB Leerink raised their Q1 2023 EPS estimates for Design Therapeutics in a report released on Tuesday, March 14th. SVB Leerink analyst J. Schwartz now forecasts that the company will post earnings of ($0.38) per share for the quarter, up from their previous forecast of ($0.41). SVB Leerink currently has a “Outperform” rating and a $22.00 target price on the stock. The consensus estimate for Design Therapeutics’ current full-year earnings is ($1.64) per share. SVB Leerink also issued estimates for Design Therapeutics’ Q2 2023 earnings at ($0.42) EPS, Q3 2023 earnings at ($0.46) EPS, Q4 2023 earnings at ($0.50) EPS, FY2023 earnings at ($1.76) EPS and FY2024 earnings at ($2.27) EPS.
A number of other brokerages have also recently commented on DSGN. Wedbush dropped their price target on shares of Design Therapeutics from $26.00 to $19.00 in a research note on Thursday, December 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of Design Therapeutics in a report on Wednesday.
Design Therapeutics Stock Performance
Institutional Trading of Design Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of DSGN. Legal & General Group Plc grew its stake in shares of Design Therapeutics by 28.0% in the second quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock worth $45,000 after acquiring an additional 711 shares during the period. Virtus ETF Advisers LLC purchased a new position in shares of Design Therapeutics in the second quarter worth approximately $108,000. Envestnet Asset Management Inc. purchased a new position in Design Therapeutics during the fourth quarter valued at approximately $126,000. E Fund Management Co. Ltd. purchased a new position in Design Therapeutics during the fourth quarter valued at approximately $128,000. Finally, GSA Capital Partners LLP bought a new stake in Design Therapeutics during the fourth quarter valued at about $140,000. 71.73% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Design Therapeutics
In related news, Director Simeon George bought 360,000 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was purchased at an average cost of $8.63 per share, with a total value of $3,106,800.00. Following the transaction, the director now owns 6,486,476 shares in the company, valued at approximately $55,978,287.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Design Therapeutics news, Director Simeon George purchased 360,000 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was bought at an average cost of $8.63 per share, for a total transaction of $3,106,800.00. Following the purchase, the director now directly owns 6,486,476 shares in the company, valued at $55,978,287.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sr One Capital Fund I. Aggregat purchased 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The stock was acquired at an average price of $8.14 per share, with a total value of $325,600.00. Following the completion of the purchase, the insider now owns 6,526,476 shares in the company, valued at $53,125,514.64. The disclosure for this purchase can be found here. Insiders bought 401,150 shares of company stock valued at $3,442,141 in the last quarter. Company insiders own 25.70% of the company’s stock.
About Design Therapeutics
Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.
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