Design Therapeutics (NASDAQ:DSGN) Shares Gap Down to $16.73

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) gapped down before the market opened on Thursday . The stock had previously closed at $16.73, but opened at $16.28. Design Therapeutics shares last traded at $16.13, with a volume of 202 shares.

Separately, Zacks Investment Research cut Design Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 11th.

The stock’s 50 day moving average price is $18.40 and its 200 day moving average price is $17.07.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.07). On average, equities research analysts forecast that Design Therapeutics, Inc. will post -0.83 EPS for the current year.

Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC acquired a new stake in Design Therapeutics in the 2nd quarter valued at about $865,000. Geode Capital Management LLC lifted its stake in Design Therapeutics by 570.5% in the 2nd quarter. Geode Capital Management LLC now owns 252,760 shares of the company’s stock valued at $5,027,000 after purchasing an additional 215,060 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Design Therapeutics in the 2nd quarter valued at about $159,000. BlackRock Inc. lifted its stake in Design Therapeutics by 77.4% in the 2nd quarter. BlackRock Inc. now owns 1,403,342 shares of the company’s stock valued at $27,911,000 after purchasing an additional 612,323 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Design Therapeutics in the 2nd quarter valued at about $666,000. Institutional investors and hedge funds own 50.45% of the company’s stock.

About Design Therapeutics (NASDAQ:DSGN)

Design Therapeutics, Inc develops therapies for the treatment of degenerative disorders caused by nucleotide repeat expansions. The company engages in the development of a program for the treatment of Friedreich's ataxia and degenerative diseases such as Fragile X syndrome and myotonic dystrophy.

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