Design Therapeutics (NASDAQ:DSGN) Reaches New 12-Month High – Here’s What Happened

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.54 and last traded at $13.2680, with a volume of 204973 shares changing hands. The stock had previously closed at $13.16.

Analyst Ratings Changes

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

Design Therapeutics Stock Performance

The company has a fifty day simple moving average of $11.00 and a two-hundred day simple moving average of $9.41. The company has a market capitalization of $788.14 million, a price-to-earnings ratio of -10.48 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.11. As a group, analysts expect that Design Therapeutics, Inc. will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Torren Management LLC acquired a new position in Design Therapeutics in the 4th quarter valued at $26,000. Russell Investments Group Ltd. raised its holdings in Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Design Therapeutics during the 4th quarter worth $67,000. AXQ Capital LP acquired a new stake in shares of Design Therapeutics during the 4th quarter worth $110,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Design Therapeutics during the 4th quarter worth $131,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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.