Design Therapeutics (NASDAQ:DSGN) Sets New 52-Week High – Still a Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $8.86 and last traded at $8.8250, with a volume of 69353 shares. The stock had previously closed at $8.35.

Analyst Ratings Changes

A number of brokerages have weighed in on DSGN. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $6.00 to $13.00 in a research note on Thursday. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.00.

Design Therapeutics Price Performance

The firm has a market cap of $492.13 million, a PE ratio of -7.26 and a beta of 1.67. The company has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $5.13.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. On average, sell-side analysts predict that Design Therapeutics, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new position in shares of Design Therapeutics in the third quarter worth about $3,582,000. Millennium Management LLC bought a new position in Design Therapeutics during the 3rd quarter worth approximately $518,000. Kennedy Capital Management LLC increased its stake in Design Therapeutics by 95.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company’s stock worth $221,000 after purchasing an additional 14,401 shares during the period. Russell Investments Group Ltd. lifted its position in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares during the last quarter. Finally, DLD Asset Management LP bought a new stake in Design Therapeutics in the third quarter valued at approximately $376,000. 56.64% of the stock is owned by institutional investors.

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.