American Century Companies Inc. Purchases Shares of 21,333 Design Therapeutics, Inc. (NASDAQ:DSGN)

American Century Companies Inc. acquired a new position in Design Therapeutics, Inc. (NASDAQ:DSGN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,333 shares of the company’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in Design Therapeutics in the 1st quarter worth $45,000. Bleakley Financial Group LLC bought a new position in shares of Design Therapeutics in the first quarter worth about $46,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Design Therapeutics during the first quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Design Therapeutics during the 1st quarter valued at approximately $57,000. Finally, Bank of New York Mellon Corp lifted its holdings in Design Therapeutics by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,110 shares of the company’s stock worth $396,000 after purchasing an additional 2,868 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors.

Design Therapeutics Stock Up 5.9 %

DSGN opened at $5.00 on Friday. The company has a market capitalization of $282.48 million, a PE ratio of -4.76 and a beta of 1.83. The firm has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $4.26. Design Therapeutics, Inc. has a 52 week low of $1.96 and a 52 week high of $6.91.

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

Insider Activity

In related news, Director Arsani William sold 814,874 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 31.20% of the company’s stock.

Analyst Ratings Changes

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

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.