Design Therapeutics (NASDAQ:DSGN) Trading 5.7% Higher – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s stock price traded up 5.7% during trading on Wednesday . The stock traded as high as $11.56 and last traded at $11.09. 355,195 shares were traded during mid-day trading, a decline of 20% from the average session volume of 443,274 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Cantor Fitzgerald assumed coverage on Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating on the stock. Finally, Royal Bank Of Canada lifted their price target on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Stock Up 5.7%

The firm has a market cap of $692.24 million, a PE ratio of -9.23 and a beta of 1.73. The stock’s fifty day simple moving average is $12.19 and its two-hundred day simple moving average is $10.32.

Design Therapeutics (NASDAQ:DSGN) last issued 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, equities research analysts anticipate that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DSGN. Torren Management LLC purchased a new stake in shares of Design Therapeutics during the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. grew its holdings in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Design Therapeutics during the fourth quarter valued at approximately $67,000. ADAR1 Capital Management LLC purchased a new stake in shares of Design Therapeutics during the first quarter valued at approximately $106,000. Finally, Royal Bank of Canada grew its holdings in shares of 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 last quarter. 56.64% of the stock is currently owned by 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.