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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.50.

A number of brokerages recently commented on DSGN. Oppenheimer increased their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Finally, Cantor Fitzgerald assumed coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating on the stock.

Design Therapeutics Stock Down 6.7%

Shares of DSGN stock opened at $12.61 on Friday. The stock has a market cap of $787.62 million, a P/E ratio of -10.51 and a beta of 1.58. Design Therapeutics has a 52 week low of $3.76 and a 52 week high of $17.25. The company’s fifty day simple moving average is $12.70 and its two-hundred day simple moving average is $11.49.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, analysts anticipate that Design Therapeutics will post -1.36 EPS for the current fiscal year.

Institutional Trading of Design Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in Design Therapeutics during the 4th quarter worth about $26,000. Russell Investments Group Ltd. lifted its position in shares of Design Therapeutics by 69.6% in the 3rd 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. Public Employees Retirement System of Ohio bought a new position in shares of Design Therapeutics during the fourth quarter valued at approximately $67,000. ADAR1 Capital Management LLC bought a new position in shares of Design Therapeutics during the first quarter valued at approximately $106,000. Finally, Royal Bank of Canada increased its holdings in Design Therapeutics by 1,681.5% during the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock valued at $121,000 after buying an additional 10,728 shares during the period. 56.64% of the stock is 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.