Design Therapeutics (NASDAQ:DSGN) Reaches New 12-Month High – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN) hit a new 52-week high during trading on Thursday . The company traded as high as $11.30 and last traded at $11.1750, with a volume of 144323 shares. The stock had previously closed at $11.01.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on shares of Design Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $15.00 price target for the company. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Craig Hallum began coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Design Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $15.20.

Design Therapeutics Trading Up 2.0%

The firm has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $8.76. The company has a market capitalization of $692.51 million, a price-to-earnings ratio of -9.19 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.11. On average, sell-side analysts forecast that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DSGN. Vivo Capital LLC acquired a new stake in shares of Design Therapeutics in the 4th quarter valued at $15,129,000. RA Capital Management L.P. boosted its holdings in Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock worth $13,708,000 after purchasing an additional 985,682 shares in the last quarter. Woodline Partners LP bought a new stake in Design Therapeutics in the first quarter worth $2,492,000. Baker BROS. Advisors LP increased its position in Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after buying an additional 520,217 shares during the last quarter. Finally, Invesco Ltd. increased its position in Design Therapeutics by 1,995.8% during the fourth quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock worth $2,868,000 after buying an additional 291,168 shares during the last quarter. Institutional investors and hedge funds 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.