Renaissance Technologies LLC Cuts Stock Holdings in Design Therapeutics, Inc. (NASDAQ:DSGN)

Renaissance Technologies LLC lowered its stake in Design Therapeutics, Inc. (NASDAQ:DSGN) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,075 shares of the company’s stock after selling 69,325 shares during the quarter. Renaissance Technologies LLC owned about 0.68% of Design Therapeutics worth $1,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Design Therapeutics in the first quarter worth about $45,000. Bleakley Financial Group LLC purchased a new position in shares of Design Therapeutics in the first quarter valued at $46,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Design Therapeutics in the first quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Design Therapeutics in the first quarter worth $57,000. Finally, American Century Companies Inc. purchased a new stake in Design Therapeutics during the second quarter valued at $71,000. Institutional investors own 56.64% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Arsani William sold 814,874 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $4.25, for a total transaction of $3,463,214.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.20% of the stock is currently owned by corporate insiders.

Design Therapeutics Stock Performance

NASDAQ DSGN opened at $5.00 on Friday. The business’s 50 day moving average price is $4.97 and its 200-day moving average price is $4.26. Design Therapeutics, Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $6.91. The company has a market cap of $282.48 million, a P/E ratio of -4.76 and a beta of 1.83.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. As a group, equities analysts predict 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.