Design Therapeutics Target of Unusually Large Options Trading (NASDAQ:DSGN)

Design Therapeutics, Inc. (NASDAQ:DSGN) saw unusually large options trading on Tuesday. Stock investors bought 5,102 call options on the company. This represents an increase of 575% compared to the typical volume of 756 call options.

Analysts Set New Price Targets

A number of brokerages have recently commented on DSGN. Jefferies Financial Group began coverage on Design Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald initiated coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Design Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Institutional Trading of Design Therapeutics

Large investors have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in Design Therapeutics in the fourth quarter valued at $26,000. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the period. Invesco Ltd. grew its position in Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Design Therapeutics in the fourth quarter valued at $67,000. Finally, Jane Street Group LLC bought a new stake in Design Therapeutics in the first quarter valued at $70,000. 56.64% of the stock is currently owned by institutional investors.

Design Therapeutics Stock Down 2.0%

NASDAQ:DSGN traded down $0.21 during trading hours on Tuesday, reaching $10.49. The company had a trading volume of 832,276 shares, compared to its average volume of 432,493. The stock has a 50-day moving average of $12.18 and a two-hundred day moving average of $10.30. Design Therapeutics has a one year low of $3.33 and a one year high of $17.25. The firm has a market capitalization of $655.21 million, a PE ratio of -8.75 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. As a group, sell-side analysts expect that Design Therapeutics will post -1.36 earnings per share for the current year.

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. 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.