Analysts Set Expectations for Design Therapeutics, Inc.’s Q2 2022 Earnings (NASDAQ:DSGN)

Design Therapeutics, Inc. (NASDAQ:DSGNGet Rating) – SVB Leerink lowered their Q2 2022 earnings per share (EPS) estimates for Design Therapeutics in a research note issued on Monday, May 9th. SVB Leerink analyst J. Schwartz now anticipates that the company will earn ($0.26) per share for the quarter, down from their prior forecast of ($0.25). SVB Leerink also issued estimates for Design Therapeutics’ Q3 2022 earnings at ($0.31) EPS, FY2022 earnings at ($1.17) EPS and FY2023 earnings at ($1.72) EPS.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada started coverage on Design Therapeutics in a research note on Monday, May 2nd. They issued an “outperform” rating and a $30.00 target price on the stock. The Goldman Sachs Group started coverage on Design Therapeutics in a research note on Wednesday, January 19th. They issued a “sell” rating and a $10.00 price target on the stock. Finally, Zacks Investment Research raised Design Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday.

Shares of NASDAQ DSGN opened at $9.91 on Thursday. Design Therapeutics has a twelve month low of $9.80 and a twelve month high of $28.49. The company’s fifty day moving average is $15.38 and its 200-day moving average is $16.04. The stock has a market cap of $551.99 million, a price-to-earnings ratio of -11.53 and a beta of 2.09.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Piper Sandler & CO. bought a new position in Design Therapeutics in the 3rd quarter worth about $37,000. Legal & General Group Plc raised its position in Design Therapeutics by 93.0% in the 4th quarter. Legal & General Group Plc now owns 2,463 shares of the company’s stock worth $53,000 after purchasing an additional 1,187 shares during the period. Morgan Stanley boosted its holdings in Design Therapeutics by 1,044.4% during the 3rd quarter. Morgan Stanley now owns 7,404 shares of the company’s stock valued at $108,000 after acquiring an additional 6,757 shares during the period. SG Americas Securities LLC bought a new position in shares of Design Therapeutics in the fourth quarter worth approximately $121,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Design Therapeutics in the fourth quarter valued at about $172,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

In other Design Therapeutics news, Director Arsani William acquired 25,000 shares of Design Therapeutics stock in a transaction dated Monday, March 21st. The stock was purchased at an average cost of $18.99 per share, for a total transaction of $474,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stella Xu sold 565,425 shares of the firm’s stock in a transaction on Friday, March 18th. The shares were 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.

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.

Further Reading

Earnings History and Estimates for Design Therapeutics (NASDAQ:DSGN)

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