Frazier Life Sciences Management L.P. Takes $4 Million Position in Design Therapeutics, Inc. (NASDAQ:DSGN)

Frazier Life Sciences Management L.P. purchased a new position in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,195,179 shares of the company’s stock, valued at approximately $4,004,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pale Fire Capital SE purchased a new position in shares of Design Therapeutics during the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Design Therapeutics in the 1st quarter valued at about $45,000. Bleakley Financial Group LLC purchased a new position in Design Therapeutics during the 1st quarter worth approximately $46,000. State Board of Administration of Florida Retirement System acquired a new position in Design Therapeutics during the first quarter worth approximately $51,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Design Therapeutics in the first quarter valued at approximately $57,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Arsani William sold 814,874 shares of Design Therapeutics stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $4.25, for a total value of $3,463,214.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 31.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $4.00 target price on shares of Design Therapeutics in a research report on Tuesday, August 6th.

Design Therapeutics Stock Performance

Shares of DSGN opened at $5.33 on Friday. Design Therapeutics, Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $6.91. The firm has a 50-day simple moving average of $4.93 and a 200-day simple moving average of $4.19. The company has a market capitalization of $301.78 million, a price-to-earnings ratio of -5.08 and a beta of 1.82.

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

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.