Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of “Hold” from Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of research analysts recently commented on DSGN shares. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Design Therapeutics in a research report on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a research report on Wednesday, March 20th.

Insiders Place Their Bets

In other news, Director John P. Schmid acquired 9,156 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $3.62 per share, with a total value of $33,144.72. Following the purchase, the director now directly owns 9,156 shares of the company’s stock, valued at approximately $33,144.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John P. Schmid acquired 17,809 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $3.74 per share, for a total transaction of $66,605.66. Following the transaction, the director now directly owns 26,965 shares of the company’s stock, valued at approximately $100,849.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John P. Schmid bought 9,156 shares of Design Therapeutics stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the purchase, the director now owns 9,156 shares in the company, valued at approximately $33,144.72. The disclosure for this purchase can be found here. 27.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Design Therapeutics by 1.7% during the 3rd quarter. BlackRock Inc. now owns 3,599,125 shares of the company’s stock worth $60,177,000 after purchasing an additional 59,189 shares in the last quarter. RTW Investments LP increased its position in Design Therapeutics by 60.8% during the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock worth $5,931,000 after purchasing an additional 949,955 shares in the last quarter. Vanguard Group Inc. increased its position in Design Therapeutics by 21.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,750 shares of the company’s stock worth $25,946,000 after purchasing an additional 271,706 shares in the last quarter. BML Capital Management LLC purchased a new stake in Design Therapeutics during the 4th quarter worth about $2,728,000. Finally, Goldman Sachs Group Inc. increased its position in Design Therapeutics by 130.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,023,723 shares of the company’s stock worth $2,713,000 after purchasing an additional 579,225 shares in the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Price Performance

NASDAQ DSGN opened at $3.74 on Friday. The firm’s fifty day moving average price is $3.14 and its 200 day moving average price is $2.62. The company has a market capitalization of $211.27 million, a price-to-earnings ratio of -3.12 and a beta of 1.82. Design Therapeutics has a 12 month low of $1.94 and a 12 month high of $8.47.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. As a group, sell-side analysts forecast that Design Therapeutics will post -1.25 earnings per share for the current 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.