Renaissance Technologies LLC Grows Position in Design Therapeutics, Inc. $DSGN

Renaissance Technologies LLC lifted its position in Design Therapeutics, Inc. (NASDAQ:DSGN) by 42.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 408,200 shares of the company’s stock after purchasing an additional 121,100 shares during the period. Renaissance Technologies LLC’s holdings in Design Therapeutics were worth $4,343,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Torren Management LLC bought a new stake in Design Therapeutics during the 4th quarter valued at $26,000. Russell Investments Group Ltd. boosted its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Design Therapeutics in the 4th quarter worth $67,000. AXQ Capital LP bought a new stake in Design Therapeutics in the 4th quarter worth $110,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Design Therapeutics in the fourth quarter valued at about $131,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

Design Therapeutics Trading Up 1.5%

NASDAQ:DSGN opened at $13.77 on Friday. The company has a 50-day moving average price of $12.64 and a 200-day moving average price of $11.80. Design Therapeutics, Inc. has a 12 month low of $3.95 and a 12 month high of $17.25. The stock has a market cap of $861.73 million, a price-to-earnings ratio of -11.67 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. Equities analysts forecast that Design Therapeutics, Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DSGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th. Oppenheimer raised their target price on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Cantor Fitzgerald started coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an “overweight” rating on the stock. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Design Therapeutics 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. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.