Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Design Therapeutics, Inc. (NASDAQ:DSGN) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.25.

Several research firms have recently weighed in on DSGN. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Oppenheimer began coverage on Design Therapeutics in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their target price on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday.

Design Therapeutics Trading Up 1.0%

Shares of DSGN opened at $10.12 on Friday. Design Therapeutics has a 12-month low of $2.60 and a 12-month high of $11.14. The firm has a 50-day moving average price of $10.02 and a 200 day moving average price of $8.32. The firm has a market capitalization of $624.10 million, a P/E ratio of -8.30 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Monday, March 9th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11. Equities research analysts predict that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in Design Therapeutics in the fourth quarter valued at about $253,000. Virtu Financial LLC acquired a new stake in shares of Design Therapeutics during the fourth quarter valued at about $212,000. Invesco Ltd. raised its stake in shares of Design Therapeutics by 1,995.8% in the 4th quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock valued at $2,868,000 after acquiring an additional 291,168 shares during the period. XTX Topco Ltd raised its stake in shares of Design Therapeutics by 197.3% in the 4th quarter. XTX Topco Ltd now owns 35,284 shares of the company’s stock valued at $331,000 after acquiring an additional 23,416 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Design Therapeutics by 162.8% in the 4th quarter. Millennium Management LLC now owns 180,866 shares of the company’s stock worth $1,697,000 after acquiring an additional 112,043 shares during the last quarter. 56.64% of the stock is currently owned by hedge funds and other 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.