Design Therapeutics (NASDAQ:DSGN) Stock Price Down 3.1% – Should You Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price fell 3.1% during mid-day trading on Thursday . The stock traded as low as $3.95 and last traded at $4.02. 90,613 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 176,830 shares. The stock had previously closed at $4.15.

Design Therapeutics Stock Performance

The company’s fifty day moving average price is $3.80 and its 200-day moving average price is $4.22. The stock has a market cap of $228.22 million, a P/E ratio of -4.06 and a beta of 1.56.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Analysts anticipate that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Design Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 761,640 shares of the company’s stock valued at $4,700,000 after purchasing an additional 3,090 shares during the period. MPM Bioimpact LLC lifted its holdings in shares of Design Therapeutics by 0.6% during the 1st quarter. MPM Bioimpact LLC now owns 562,943 shares of the company’s stock worth $2,173,000 after acquiring an additional 3,396 shares during the period. Palumbo Wealth Management LLC increased its position in Design Therapeutics by 6.5% during the 1st quarter. Palumbo Wealth Management LLC now owns 58,278 shares of the company’s stock worth $225,000 after purchasing an additional 3,582 shares in the last quarter. Wells Fargo & Company MN increased its position in Design Therapeutics by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 18,428 shares of the company’s stock worth $114,000 after purchasing an additional 4,013 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Design Therapeutics by 13.5% in the first quarter. American Century Companies Inc. now owns 44,415 shares of the company’s stock valued at $171,000 after acquiring an additional 5,300 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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.