Design Therapeutics (NASDAQ:DSGN) Trading Up 6.8% – Still a Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares rose 6.8% on Monday . The stock traded as high as $12.25 and last traded at $11.9950. Approximately 212,423 shares traded hands during trading, a decline of 20% from the average daily volume of 265,560 shares. The stock had previously closed at $11.23.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Jefferies Financial Group assumed coverage on shares of Design Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $15.00 price target for the company. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Royal Bank Of Canada increased their price objective on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Oppenheimer initiated coverage on Design Therapeutics in a research note on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Design Therapeutics Trading Up 8.3%

The company has a market cap of $750.15 million, a P/E ratio of -9.98 and a beta of 1.57. The company’s fifty day moving average is $10.38 and its 200 day moving average is $8.86.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Monday, March 9th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.11. Analysts anticipate that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Design Therapeutics

Several hedge funds have recently made changes to their positions in DSGN. Bank of America Corp DE increased its stake in shares of Design Therapeutics by 11.1% in the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after acquiring an additional 2,459 shares in the last quarter. Strs Ohio boosted its stake in Design Therapeutics by 11.5% during the fourth quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $236,000 after acquiring an additional 2,600 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Design Therapeutics by 69.6% in 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 during the period. Torren Management LLC bought a new position in shares of Design Therapeutics during the fourth quarter valued at approximately $26,000. Finally, Invesco Ltd. increased its stake in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares in 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.