Design Therapeutics (NASDAQ:DSGN) Sees Strong Trading Volume – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) saw unusually-strong trading volume on Thursday . Approximately 251,287 shares were traded during trading, a decline of 5% from the previous session’s volume of 263,364 shares.The stock last traded at $10.0750 and had previously closed at $10.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Oppenheimer assumed coverage on Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price target for the company. Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $6.00 to $13.00 in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Design Therapeutics Price Performance

The firm’s fifty day simple moving average is $9.75 and its 200 day simple moving average is $7.70. The company has a market capitalization of $586.39 million, a PE ratio of -8.66 and a beta of 1.63.

Institutional Investors Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its stake in shares of Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after purchasing an additional 520,217 shares during the period. Vivo Capital LLC purchased a new position in Design Therapeutics in the fourth quarter valued at $15,129,000. RA Capital Management L.P. increased 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 valued at $13,708,000 after buying an additional 985,682 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Design Therapeutics by 2.4% in the second 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 period. Finally, State Street Corp boosted its stake in shares of Design Therapeutics by 2.1% during the 4th quarter. State Street Corp now owns 647,636 shares of the company’s stock worth $6,075,000 after acquiring an additional 13,239 shares in 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.