Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of “Moderate Buy” from Brokerages

Design Therapeutics, Inc. (NASDAQ:DSGN) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $16.50.

DSGN has been the subject of a number of recent analyst reports. Cantor Fitzgerald began coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Piper Sandler reissued an “overweight” rating and set a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Finally, Oppenheimer upped their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th.

Design Therapeutics Trading Up 2.4%

NASDAQ DSGN opened at $14.33 on Tuesday. The stock has a 50-day simple moving average of $12.79 and a 200 day simple moving average of $11.87. The company has a market capitalization of $896.77 million, a PE ratio of -12.14 and a beta of 1.63. Design Therapeutics has a 12 month low of $4.23 and a 12 month high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. As a group, sell-side analysts predict that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in DSGN. State of Wyoming bought a new stake in shares of Design Therapeutics in the 2nd quarter valued at $37,000. Torren Management LLC bought a new stake in Design Therapeutics during the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. increased its position in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after acquiring an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Design Therapeutics during the 4th quarter worth about $67,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Design Therapeutics during the first quarter worth about $106,000. Institutional investors and hedge funds 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.