Design Therapeutics (NASDAQ:DSGN) Sees Unusually-High Trading Volume – What’s Next?

Design Therapeutics, Inc. (NASDAQ:DSGN) saw an uptick in trading volume on Monday . 563,030 shares were traded during trading, an increase of 131% from the previous session’s volume of 243,562 shares.The stock last traded at $10.6540 and had previously closed at $10.12.

Wall Street Analysts Forecast Growth

DSGN has been the subject of several recent analyst reports. Craig Hallum started coverage on Design Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target for the company. Royal Bank Of Canada lifted their price objective on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group began coverage on shares of Design Therapeutics in a research note on Monday. They issued a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.20.

Design Therapeutics Stock Performance

The stock has a market capitalization of $671.22 million, a P/E ratio of -8.93 and a beta of 1.63. The firm has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $8.36.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.11. On average, research analysts anticipate that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in DSGN. Woodline Partners LP purchased a new position in shares of Design Therapeutics in the first quarter worth approximately $2,492,000. Jane Street Group LLC purchased a new stake in Design Therapeutics during the first quarter valued at approximately $70,000. Strs Ohio bought a new position in Design Therapeutics in the first quarter worth approximately $87,000. Los Angeles Capital Management LLC bought a new position in Design Therapeutics in the second quarter worth approximately $43,000. Finally, Geode Capital Management LLC boosted its stake in shares of Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock worth $2,676,000 after acquiring an additional 18,511 shares during the last quarter. Hedge funds and other institutional investors own 56.64% of the company’s stock.

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.