Design Therapeutics, Inc. (NASDAQ:DSGN) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Design Therapeutics, Inc. (NASDAQ:DSGN) by 317.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,999 shares of the company’s stock after acquiring an additional 9,126 shares during the quarter. Federated Hermes Inc.’s holdings in Design Therapeutics were worth $32,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DSGN. BML Capital Management LLC purchased a new stake in shares of Design Therapeutics in the 4th quarter valued at $2,728,000. Barclays PLC grew its stake in shares of Design Therapeutics by 353.1% in the third quarter. Barclays PLC now owns 71,678 shares of the company’s stock worth $170,000 after acquiring an additional 55,858 shares in the last quarter. RTW Investments LP increased its position in shares of Design Therapeutics by 60.8% during the third quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock worth $5,931,000 after acquiring an additional 949,955 shares during the period. Algert Global LLC boosted its holdings in Design Therapeutics by 83.3% in the third quarter. Algert Global LLC now owns 35,620 shares of the company’s stock valued at $84,000 after purchasing an additional 16,190 shares during the period. Finally, Jump Financial LLC grew its stake in Design Therapeutics by 284.7% during the 3rd quarter. Jump Financial LLC now owns 46,700 shares of the company’s stock worth $110,000 after purchasing an additional 34,561 shares in the last quarter. Hedge funds and other institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Up 28.5 %

NASDAQ:DSGN opened at $4.69 on Wednesday. The company has a market capitalization of $264.94 million, a PE ratio of -3.91 and a beta of 1.83. Design Therapeutics, Inc. has a 52-week low of $1.94 and a 52-week high of $8.47. The stock’s 50 day moving average price is $3.41 and its 200 day moving average price is $2.74.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. As a group, sell-side analysts anticipate that Design Therapeutics, Inc. will post -1.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on DSGN shares. Piper Sandler upgraded shares of Design Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $12.00 in a research note on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Design Therapeutics in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.60.

Insider Activity

In related news, Director John P. Schmid purchased 17,809 shares of the stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $3.74 per share, with a total value of $66,605.66. Following the purchase, the director now directly owns 26,965 shares in the company, valued at approximately $100,849.10. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John P. Schmid bought 9,156 shares of the stock in a transaction on Friday, March 22nd. The shares were bought at an average price of $3.62 per share, with a total value of $33,144.72. Following the completion of the acquisition, the director now owns 9,156 shares of the company’s stock, valued at $33,144.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schmid purchased 17,809 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $3.74 per share, with a total value of $66,605.66. Following the purchase, the director now directly owns 26,965 shares in the company, valued at $100,849.10. The disclosure for this purchase can be found here. Insiders own 25.70% of the company’s stock.

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.