Design Therapeutics (NASDAQ:DSGN) Sees Strong Trading Volume – Here’s Why

Design Therapeutics, Inc. (NASDAQ:DSGN) saw unusually-high trading volume on Tuesday . Approximately 469,406 shares were traded during trading, an increase of 10% from the previous session’s volume of 426,898 shares.The stock last traded at $10.43 and had previously closed at $10.70.

Wall Street Analyst Weigh In

DSGN has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Jefferies Financial Group started coverage on Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 target price for the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Royal Bank Of Canada raised their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Design Therapeutics Trading Up 5.8%

The stock’s fifty day moving average is $12.20 and its two-hundred day moving average is $10.36. The firm has a market cap of $693.27 million, a P/E ratio of -9.25 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. On average, analysts forecast that Design Therapeutics, Inc. will post -1.36 EPS for the current year.

Institutional Trading of Design Therapeutics

Large investors have recently modified their holdings of the business. Torren Management LLC bought a new stake in shares of Design Therapeutics during the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its stake in Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after buying an additional 2,618 shares in the last quarter. Invesco Ltd. grew its stake in Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after buying an additional 3,033 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Design Therapeutics in the 4th quarter worth approximately $67,000. Finally, Jane Street Group LLC purchased a new position in Design Therapeutics in the 1st quarter worth approximately $70,000. Institutional investors own 56.64% of the company’s stock.

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. 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.