MetLife Investment Management LLC Acquires 5,160 Shares of Design Therapeutics, Inc. (NASDAQ:DSGN)

MetLife Investment Management LLC boosted its holdings in Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) by 30.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,045 shares of the company’s stock after buying an additional 5,160 shares during the quarter. MetLife Investment Management LLC’s holdings in Design Therapeutics were worth $369,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Design Therapeutics by 28.0% in the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock valued at $45,000 after buying an additional 711 shares during the last quarter. Bank of America Corp DE raised its holdings in Design Therapeutics by 4.1% during the 1st quarter. Bank of America Corp DE now owns 57,199 shares of the company’s stock worth $924,000 after purchasing an additional 2,262 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Design Therapeutics during the 2nd quarter worth approximately $32,000. New York State Common Retirement Fund raised its holdings in Design Therapeutics by 11.1% during the 3rd quarter. New York State Common Retirement Fund now owns 24,246 shares of the company’s stock worth $405,000 after purchasing an additional 2,432 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Design Therapeutics by 20.1% during the 2nd quarter. American International Group Inc. now owns 15,859 shares of the company’s stock worth $222,000 after purchasing an additional 2,657 shares during the last quarter. Institutional investors own 71.73% of the company’s stock.

Analysts Set New Price Targets

DSGN has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Design Therapeutics from $29.00 to $24.00 in a report on Thursday, December 8th. Wedbush lowered their price target on shares of Design Therapeutics from $26.00 to $19.00 in a report on Thursday, December 8th. Finally, SVB Leerink reduced their price objective on shares of Design Therapeutics from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, December 9th.

Insider Activity at Design Therapeutics

In other news, major shareholder Sr One Capital Fund I. Aggregat acquired 40,000 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were purchased at an average cost of $8.14 per share, with a total value of $325,600.00. Following the acquisition, the insider now directly owns 6,526,476 shares of the company’s stock, valued at $53,125,514.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Rodney W. Lappe acquired 15,000 shares of the business’s stock in a transaction on Friday, December 9th. The shares were purchased at an average cost of $7.96 per share, with a total value of $119,400.00. Following the acquisition, the director now directly owns 112,024 shares of the company’s stock, valued at $891,711.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Sr One Capital Fund I. Aggregat bought 40,000 shares of the stock in a transaction dated Tuesday, December 20th. The shares were acquired at an average price of $8.14 per share, for a total transaction of $325,600.00. Following the completion of the purchase, the insider now directly owns 6,526,476 shares in the company, valued at $53,125,514.64. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 916,150 shares of company stock valued at $7,701,541. 25.70% of the stock is owned by company insiders.

Design Therapeutics Trading Up 0.4 %

NASDAQ DSGN opened at $7.10 on Friday. The company has a fifty day simple moving average of $8.22 and a 200 day simple moving average of $13.43. Design Therapeutics, Inc. has a 12-month low of $6.46 and a 12-month high of $26.30. The company has a market cap of $396.96 million, a P/E ratio of -6.89 and a beta of 1.27.

Design Therapeutics Profile

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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.