Design Therapeutics, Inc. (NASDAQ:DSGN) Given Consensus Rating of “Hold” by Analysts

Design Therapeutics, Inc. (NASDAQ:DSGN) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.60.

DSGN has been the topic of a number of research analyst reports. Piper Sandler upgraded shares of Design Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $12.00 in a research note on Tuesday, May 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 target price on shares of Design Therapeutics in a research note on Wednesday, March 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Design Therapeutics in a research note on Wednesday, March 20th.

Design Therapeutics Stock Performance

Design Therapeutics stock opened at $4.51 on Thursday. Design Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $8.31. The stock has a market cap of $254.77 million, a PE ratio of -4.30 and a beta of 1.83. The firm’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $2.86.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. As a group, analysts predict that Design Therapeutics will post -1.02 EPS for the current fiscal year.

Insider Activity

In other Design Therapeutics news, Director John P. Schmid purchased 17,809 shares of the stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $3.74 per share, with a total value of $66,605.66. Following the completion of the transaction, the director now directly owns 26,965 shares in the company, valued at approximately $100,849.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director John P. Schmid bought 17,809 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $3.74 per share, with a total value of $66,605.66. Following the acquisition, the director now owns 26,965 shares of the company’s stock, valued at approximately $100,849.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Schmid bought 9,156 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $3.62 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders own 25.70% of the company’s stock.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP increased its holdings in shares of Design Therapeutics by 60.8% in the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock worth $5,931,000 after buying an additional 949,955 shares during the last quarter. Baker BROS. Advisors LP increased its holdings in shares of Design Therapeutics by 10.8% in the 1st quarter. Baker BROS. Advisors LP now owns 1,662,120 shares of the company’s stock worth $6,698,000 after buying an additional 162,120 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Design Therapeutics by 29.0% in the 1st quarter. Vanguard Group Inc. now owns 1,285,962 shares of the company’s stock worth $5,182,000 after buying an additional 288,803 shares during the last quarter. BML Capital Management LLC bought a new position in shares of Design Therapeutics in the 4th quarter worth $2,728,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Design Therapeutics by 123.3% in the 1st quarter. Acadian Asset Management LLC now owns 403,546 shares of the company’s stock worth $1,625,000 after buying an additional 222,805 shares during the last quarter. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Company 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.