Design Therapeutics (NASDAQ:DSGN) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Design Therapeutics (NASDAQ:DSGN) reported quarterly earnings of ($0.30) per share, surpassing expectations by $0.04. The stock rose to $6.55 with a market cap of $373.02 million. Analysts maintain a 'Sell' rating, with Weiss Ratings issuing a 'sell (d-)' rating. Institutional investors hold 56.64% of shares, with notable increases from Invesco and Bank of America. Design Therapeutics focuses on developing small molecule drugs for genetic diseases using its GeneTAC platform.
Design Therapeutics (NASDAQ:DSGN - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04, Zacks reports.
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Design Therapeutics Stock Performance
Shares of Design Therapeutics stock traded up $0.31 during mid-day trading on Wednesday, hitting $6.55. 86,016 shares of the stock were exchanged, compared to its average volume of 194,359. Design Therapeutics has a 12 month low of $2.60 and a 12 month high of $7.77. The company has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $4.84. The company has a market capitalization of $373.02 million, a P/E ratio of -5.85 and a beta of 1.67.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Design Therapeutics currently has an average rating of "Sell".
View Our Latest Report on Design Therapeutics
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of DSGN. Invesco Ltd. increased its position in shares of Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company's stock valued at $48,000 after purchasing an additional 3,033 shares during the last quarter. Jane Street Group LLC purchased a new position in Design Therapeutics in the first quarter valued at about $70,000. Bank of America Corp DE increased its stake in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company's stock worth $83,000 after purchasing an additional 2,459 shares during the last quarter. Strs Ohio bought a new stake in shares of Design Therapeutics in the 1st quarter worth approximately $87,000. Finally, Bridgeway Capital Management LLC lifted its stake in Design Therapeutics by 65.4% in the second quarter. Bridgeway Capital Management LLC now owns 188,200 shares of the company's stock valued at $634,000 after purchasing an additional 74,400 shares during the last quarter. Hedge funds and other institutional investors own 56.64% of the company's stock.
Design Therapeutics Company Profile
(Get Free Report)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.
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