Design Therapeutics, Inc. (NASDAQ:DSGN) Stock Has Average Target Price of $16.50 According to Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $17.86.

Several research firms have recently issued reports on DSGN. Wells Fargo & Company assumed coverage on shares of Design Therapeutics in a report on Friday. They issued an “overweight” rating and a $26.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. AlphaCentric Advisors LLC grew its stake in Design Therapeutics by 4.8% in the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock worth $226,000 after purchasing an additional 969 shares in the last quarter. State of Wyoming purchased a new position in Design Therapeutics during the 2nd quarter worth $37,000. Legal & General Group Plc bought a new stake in Design Therapeutics during the 2nd quarter valued at $43,000. Public Employees Retirement System of Ohio raised its position in Design Therapeutics by 114.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 15,193 shares of the company’s stock valued at $162,000 after purchasing an additional 8,100 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Design Therapeutics in the 1st quarter worth $106,000. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Performance

NASDAQ DSGN opened at $11.97 on Wednesday. The business’s 50 day moving average price is $13.87 and its 200-day moving average price is $12.95. Design Therapeutics has a fifty-two week low of $5.28 and a fifty-two week high of $17.25. The company has a market cap of $749.08 million, a P/E ratio of -10.14 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results 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 analysts predict that Design Therapeutics will post -1.41 EPS for the current year.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.