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

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

A number of analysts have commented on the company. Oppenheimer upped their price target on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Royal Bank Of Canada upped their price target on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $20.00 price target on shares of Design Therapeutics in a research report on Wednesday, April 29th.

Institutional Trading of Design Therapeutics

Several institutional investors have recently made changes to their positions in DSGN. Torren Management LLC purchased a new stake in shares of Design Therapeutics during the fourth quarter worth about $26,000. Russell Investments Group Ltd. grew its position 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 worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Invesco Ltd. grew its position in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Design Therapeutics during the fourth quarter worth about $67,000. Finally, Jane Street Group LLC purchased a new stake in shares of Design Therapeutics during the first quarter worth about $70,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Down 2.6%

Shares of DSGN opened at $11.10 on Thursday. The business has a 50-day simple moving average of $12.29 and a two-hundred day simple moving average of $10.51. The stock has a market cap of $693.31 million, a price-to-earnings ratio of -9.25 and a beta of 1.73. Design Therapeutics has a 52 week low of $3.33 and a 52 week high of $17.25.

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

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.