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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $16.50.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th.

Design Therapeutics Trading Down 1.1%

Shares of Design Therapeutics stock opened at $14.63 on Friday. The firm has a market cap of $915.57 million, a PE ratio of -12.40 and a beta of 1.66. The stock has a 50 day moving average of $14.12 and a 200 day moving average of $12.68. Design Therapeutics has a 12 month low of $5.28 and a 12 month high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. As a group, equities research analysts forecast that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of Design Therapeutics by 45.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company’s stock valued at $4,593,000 after purchasing an additional 133,919 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Design Therapeutics by 42.2% during the 1st quarter. Renaissance Technologies LLC now owns 408,200 shares of the company’s stock valued at $4,343,000 after purchasing an additional 121,100 shares during the last quarter. Sei Investments Co. raised its holdings in Design Therapeutics by 152.6% during the 1st quarter. Sei Investments Co. now owns 133,203 shares of the company’s stock valued at $1,417,000 after buying an additional 80,473 shares during the period. J. Goldman & Co LP purchased a new stake in Design Therapeutics during the 2nd quarter valued at $2,558,000. Finally, Bank of New York Mellon Corp bought a new stake in Design Therapeutics in the second quarter worth $1,332,000. Institutional investors own 56.64% of the company’s stock.

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.