Design Therapeutics, Inc. (NASDAQ:DSGN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,110 shares of the company’s stock after purchasing an additional 2,868 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of Design Therapeutics worth $396,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DSGN. Opaleye Management Inc. acquired a new position in Design Therapeutics during the first quarter worth about $456,000. Baker BROS. Advisors LP raised its position in shares of Design Therapeutics by 10.8% in the first quarter. Baker BROS. Advisors LP now owns 1,662,120 shares of the company’s stock valued at $6,698,000 after purchasing an additional 162,120 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Design Therapeutics during the 1st quarter worth $45,000. Acadian Asset Management LLC lifted its position in shares of Design Therapeutics by 123.3% during the 1st quarter. Acadian Asset Management LLC now owns 403,546 shares of the company’s stock worth $1,625,000 after purchasing an additional 222,805 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Design Therapeutics by 29.0% in the first quarter. Vanguard Group Inc. now owns 1,285,962 shares of the company’s stock valued at $5,182,000 after acquiring an additional 288,803 shares during the period. Institutional investors own 56.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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 Tuesday, August 6th.

Insider Activity

In related news, Director Arsani William sold 814,874 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $4.25, for a total transaction of $3,463,214.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. 31.20% of the stock is owned by company insiders.

Design Therapeutics Price Performance

Design Therapeutics stock opened at $5.38 on Thursday. The company’s 50 day simple moving average is $4.88 and its 200 day simple moving average is $4.15. The firm has a market capitalization of $304.62 million, a price-to-earnings ratio of -5.12 and a beta of 1.82. Design Therapeutics, Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $6.91.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Monday, August 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. As a group, analysts predict that Design Therapeutics, Inc. will post -0.94 EPS for the current fiscal year.

About Design Therapeutics

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.