Insider Buying: Design Therapeutics, Inc. (NASDAQ:DSGN) Director Acquires $33,144.72 in Stock

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

Design Therapeutics Stock Performance

Shares of DSGN opened at $3.91 on Thursday. The stock has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.47. Design Therapeutics, Inc. has a 52-week low of $1.94 and a 52-week high of $8.47. The firm has a market capitalization of $220.88 million, a PE ratio of -3.26 and a beta of 1.72.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its holdings in shares of Design Therapeutics by 28.0% during the second quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock worth $45,000 after acquiring an additional 711 shares during the period. Tower Research Capital LLC TRC lifted its stake in Design Therapeutics by 152.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,201 shares in the last quarter. Pale Fire Capital SE acquired a new position in Design Therapeutics during the 4th quarter worth approximately $28,000. Citigroup Inc. grew its stake in shares of Design Therapeutics by 214.5% during the 2nd quarter. Citigroup Inc. now owns 10,716 shares of the company’s stock worth $68,000 after acquiring an additional 7,309 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Design Therapeutics in the second quarter valued at $68,000. Institutional investors own 56.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DSGN. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Design Therapeutics in a research note on Wednesday, March 20th. 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 Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, Design Therapeutics presently has a consensus rating of “Hold” and an average 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.