Design Therapeutics, Inc. (NASDAQ:DSGN) Expected to Announce Earnings of -$0.24 Per Share

Brokerages expect that Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) will report ($0.24) earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Design Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at ($0.23). Design Therapeutics reported earnings per share of ($0.14) during the same quarter last year, which would indicate a negative year-over-year growth rate of 71.4%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Design Therapeutics will report full-year earnings of ($1.04) per share for the current year, with EPS estimates ranging from ($1.12) to ($0.96). For the next fiscal year, analysts forecast that the company will report earnings of ($1.46) per share, with EPS estimates ranging from ($1.68) to ($1.23). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Design Therapeutics.

Design Therapeutics (NASDAQ:DSGN – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02).

A number of equities research analysts have issued reports on DSGN shares. Royal Bank of Canada started coverage on Design Therapeutics in a research report on Monday, May 2nd. They set an “outperform” rating and a $30.00 price objective on the stock. The Goldman Sachs Group started coverage on Design Therapeutics in a research report on Wednesday, January 19th. They set a “sell” rating and a $10.00 price objective on the stock.

In other Design Therapeutics news, Director Arsani William acquired 25,000 shares of the stock in a transaction dated Monday, March 21st. The stock was purchased at an average price of $18.99 per share, with a total value of $474,750.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stella Xu sold 565,425 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $19.07, for a total value of $10,782,654.75. The disclosure for this sale can be found here.

Institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in Design Therapeutics by 4.7% during the 3rd quarter. Citigroup Inc. now owns 24,808 shares of the company’s stock worth $364,000 after acquiring an additional 1,118 shares during the period. EcoR1 Capital LLC lifted its position in Design Therapeutics by 47.9% during the 3rd quarter. EcoR1 Capital LLC now owns 1,863,098 shares of the company’s stock worth $27,369,000 after acquiring an additional 603,079 shares during the period. Geode Capital Management LLC lifted its position in Design Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 258,032 shares of the company’s stock worth $3,790,000 after acquiring an additional 5,272 shares during the period. TD Asset Management Inc. lifted its position in Design Therapeutics by 208.2% during the 3rd quarter. TD Asset Management Inc. now owns 65,718 shares of the company’s stock worth $965,000 after acquiring an additional 44,396 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Design Therapeutics by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 220,510 shares of the company’s stock worth $3,239,000 after acquiring an additional 9,008 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Shares of Design Therapeutics stock opened at $11.07 on Tuesday. The stock has a 50 day moving average of $15.46 and a 200 day moving average of $16.07. Design Therapeutics has a 12 month low of $10.37 and a 12 month high of $29.16. The firm has a market cap of $616.60 million, a PE ratio of -12.87 and a beta of 2.09.

About Design Therapeutics (Get Rating)

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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