Insider Buying: Design Therapeutics, Inc. (NASDAQ:DSGN) Director Purchases 9,156 Shares of Stock

Design Therapeutics, Inc. (NASDAQ:DSGN) Director John P. Schmid acquired 9,156 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the transaction, the director now owns 9,156 shares of the company’s stock, valued at approximately $33,144.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Design Therapeutics Trading Up 9.5 %

DSGN opened at $3.91 on Thursday. The stock has a market capitalization of $220.88 million, a P/E ratio of -3.26 and a beta of 1.72. The stock has a 50-day moving average price of $2.68 and a 200-day moving average price of $2.47. Design Therapeutics, Inc. has a 12-month low of $1.94 and a 12-month high of $8.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pale Fire Capital SE purchased a new stake in shares of Design Therapeutics in the 4th quarter valued at $28,000. Nisa Investment Advisors LLC lifted its stake in Design Therapeutics by 38,433.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock worth $31,000 after purchasing an additional 11,530 shares during the last quarter. Federated Hermes Inc. boosted its position in Design Therapeutics by 317.6% during the fourth quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock valued at $32,000 after buying an additional 9,126 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Design Therapeutics by 152.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,300 shares of the company’s stock valued at $33,000 after buying an additional 3,201 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Design Therapeutics by 28.0% in the second quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock worth $45,000 after buying an additional 711 shares during the period. 56.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DSGN has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Design Therapeutics in a research report on Wednesday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 target price on shares of Design Therapeutics in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Design Therapeutics has a consensus rating of “Hold” and a consensus target price of $5.50.

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.