Q1 2023 Earnings Estimate for Design Therapeutics, Inc. Issued By SVB Leerink (NASDAQ:DSGN)

Posted by Defense World Staff on Mar 18th, 2023

Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) – Stock analysts at SVB Leerink lifted their Q1 2023 earnings per share (EPS) estimates for shares of Design Therapeutics in a research note issued on Tuesday, March 14th. SVB Leerink analyst J. Schwartz now anticipates that the company will post earnings per share of ($0.38) for the quarter, up from their prior forecast of ($0.41). SVB Leerink currently has a “Outperform” rating and a $22.00 price target on the stock. The consensus estimate for Design Therapeutics’ current full-year earnings is ($1.68) per share. SVB Leerink also issued estimates for Design Therapeutics’ Q2 2023 earnings at ($0.42) EPS, Q3 2023 earnings at ($0.46) EPS, Q4 2023 earnings at ($0.50) EPS, FY2023 earnings at ($1.76) EPS and FY2024 earnings at ($2.27) EPS.

Several other equities research analysts also recently commented on the stock. Wedbush dropped their price objective on shares of Design Therapeutics from $26.00 to $19.00 in a report on Thursday, December 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Design Therapeutics in a research report on Wednesday.

Design Therapeutics Stock Down 7.8 %

Design Therapeutics stock opened at $6.48 on Friday. The firm has a 50 day moving average price of $7.67 and a 200-day moving average price of $12.40. Design Therapeutics has a twelve month low of $6.08 and a twelve month high of $26.30. The company has a market capitalization of $362.30 million, a P/E ratio of -5.68 and a beta of 1.27.

Insider Buying and Selling

In other Design Therapeutics news, major shareholder Sr One Capital Fund I. Aggregat bought 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The shares were bought at an average cost of $8.14 per share, with a total value of $325,600.00. Following the completion of the purchase, the insider now directly owns 6,526,476 shares of the company’s stock, valued at $53,125,514.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Sr One Capital Fund I. Aggregat bought 40,000 shares of the business’s stock in a transaction dated Tuesday, December 20th. The shares were purchased at an average price of $8.14 per share, with a total value of $325,600.00. Following the purchase, the insider now owns 6,526,476 shares of the company’s stock, valued at approximately $53,125,514.64. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Simeon George bought 360,000 shares of the stock in a transaction dated Monday, December 19th. The stock was purchased at an average price of $8.63 per share, with a total value of $3,106,800.00. Following the purchase, the director now owns 6,486,476 shares in the company, valued at $55,978,287.88. The disclosure for this purchase can be found here. Insiders have purchased a total of 401,150 shares of company stock worth $3,442,141 in the last ninety days. 25.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DSGN. Legal & General Group Plc lifted its stake in Design Therapeutics by 28.0% during the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock valued at $45,000 after acquiring an additional 711 shares during the period. Virtus ETF Advisers LLC bought a new position in Design Therapeutics in the second quarter worth approximately $108,000. Tower Research Capital LLC TRC increased its stake in shares of Design Therapeutics by 48.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,010 shares of the company’s stock worth $151,000 after purchasing an additional 2,951 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Design Therapeutics in the 3rd quarter worth $186,000. Finally, Trexquant Investment LP bought a new stake in Design Therapeutics during the third quarter valued at about $189,000. Hedge funds and other institutional investors own 71.73% of the company’s stock.

About Design Therapeutics

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Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.