Design Therapeutics (NASDAQ:DSGN) Hits New 1-Year High – What’s Next?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $12.75 and last traded at $12.22, with a volume of 364644 shares. The stock had previously closed at $12.53.

Analysts Set New Price Targets

DSGN has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Design Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $15.00 target price on the stock. Oppenheimer initiated 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. Royal Bank Of Canada upped their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.20.

Design Therapeutics Stock Down 2.5%

The company has a market cap of $753.61 million, a PE ratio of -10.02 and a beta of 1.57. The business has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $8.95.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11. On average, research analysts forecast that Design Therapeutics, Inc. will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its position in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after acquiring an additional 520,217 shares in the last quarter. Vivo Capital LLC purchased a new position in shares of Design Therapeutics in the fourth quarter valued at approximately $15,129,000. RA Capital Management L.P. lifted its position in shares of Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after acquiring an additional 985,682 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Design Therapeutics by 2.4% in the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after acquiring an additional 18,511 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after acquiring an additional 13,239 shares in the last quarter. Hedge funds and other 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.