Design Therapeutics, Inc. (NASDAQ:DSGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.00.

A number of brokerages have weighed in on DSGN. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $13.00 in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday. Wall Street Zen cut Design Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Oppenheimer initiated coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Craig Hallum assumed coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective on the stock.

Design Therapeutics Price Performance

Shares of DSGN stock opened at $10.62 on Friday. The company has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $6.85. Design Therapeutics has a one year low of $2.60 and a one year high of $10.80. The stock has a market cap of $604.92 million, a P/E ratio of -8.92 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. As a group, equities research analysts anticipate that Design Therapeutics will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in Design Therapeutics by 11.1% during the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after acquiring an additional 2,459 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares during the period. Invesco Ltd. increased its stake in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares during the period. JPMorgan Chase & Co. lifted its holdings in Design Therapeutics by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company’s stock worth $175,000 after purchasing an additional 4,896 shares during the last quarter. Finally, Velan Capital Investment Management LP boosted its stake in Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after purchasing an additional 6,000 shares during the period. 56.64% of the stock is owned by institutional investors.

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. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.