Trails Edge Capital Partners LP Buys Shares of 2,001,282 Design Therapeutics, Inc. $DSGN

Trails Edge Capital Partners LP bought a new position in Design Therapeutics, Inc. (NASDAQ:DSGN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,001,282 shares of the company’s stock, valued at approximately $28,958,550,000. Design Therapeutics comprises about 4.6% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 7th largest position.

Several other large investors also recently made changes to their positions in the company. Sei Investments Co. increased its position in Design Therapeutics by 152.6% in the 1st quarter. Sei Investments Co. now owns 133,203 shares of the company’s stock valued at $1,417,000 after acquiring an additional 80,473 shares during the period. Renaissance Technologies LLC raised its position in Design Therapeutics by 42.2% in the first quarter. Renaissance Technologies LLC now owns 408,200 shares of the company’s stock worth $4,343,000 after acquiring an additional 121,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Design Therapeutics by 45.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company’s stock valued at $4,593,000 after purchasing an additional 133,919 shares in the last quarter. Elmind Capital LP acquired a new position in shares of Design Therapeutics in the 4th quarter worth approximately $1,950,000. Finally, J. Goldman & Co LP acquired a new position in shares of Design Therapeutics in the 2nd quarter worth approximately $2,558,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Trading Up 3.0%

NASDAQ DSGN opened at $15.68 on Wednesday. The stock’s 50-day moving average price is $13.77 and its two-hundred day moving average price is $12.25. The company has a market cap of $981.25 million, a PE ratio of -13.29 and a beta of 1.63. Design Therapeutics, Inc. has a 1 year low of $4.92 and a 1 year high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Research analysts forecast that Design Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on DSGN. Piper Sandler reissued an “overweight” rating and set a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. Cantor Fitzgerald assumed coverage on shares of Design Therapeutics in a research report on Tuesday, May 12th. They issued an “overweight” rating on the stock. Oppenheimer upped their price target on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.