Acadian Asset Management LLC Raises Stake in Design Therapeutics, Inc. (NASDAQ:DSGN)

Acadian Asset Management LLC lifted its holdings in shares of Design Therapeutics, Inc. (NASDAQ:DSGN) by 44.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,160 shares of the company’s stock after acquiring an additional 179,614 shares during the quarter. Acadian Asset Management LLC owned about 1.03% of Design Therapeutics worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Design Therapeutics by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,110 shares of the company’s stock valued at $396,000 after buying an additional 2,868 shares during the period. Pale Fire Capital SE acquired a new position in shares of Design Therapeutics during the fourth quarter worth $28,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Design Therapeutics in the first quarter valued at $45,000. Bleakley Financial Group LLC bought a new stake in shares of Design Therapeutics during the 1st quarter valued at about $46,000. Finally, Simplicity Wealth LLC bought a new position in Design Therapeutics in the first quarter worth about $46,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Design Therapeutics Trading Down 5.1 %

Shares of NASDAQ:DSGN opened at $5.54 on Friday. The firm’s 50 day moving average is $4.63 and its two-hundred day moving average is $4.00. The firm has a market capitalization of $313.67 million, a P/E ratio of -5.28 and a beta of 1.82. Design Therapeutics, Inc. has a 52 week low of $1.96 and a 52 week high of $6.91.

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

Insider Activity

In related news, Director Arsani William sold 814,874 shares of the 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.20% of the company’s stock.

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.