Design Therapeutics (NASDAQ:DSGN) Shares Gap Up – What’s Next?

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) gapped up before the market opened on Thursday . The stock had previously closed at $11.10, but opened at $11.80. Design Therapeutics shares last traded at $10.84, with a volume of 39,548 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DSGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Royal Bank Of Canada raised their price objective on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald started coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Oppenheimer raised their price objective 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Price Performance

The company’s 50 day moving average price is $12.28 and its 200 day moving average price is $10.54. The firm has a market cap of $654.58 million, a PE ratio of -8.73 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.07. Sell-side analysts expect that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC raised its holdings in Design Therapeutics by 4.8% in the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock valued at $226,000 after acquiring an additional 969 shares in the last quarter. Bank of America Corp DE raised its holdings in Design Therapeutics by 11.1% during the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after purchasing an additional 2,459 shares in the last quarter. Strs Ohio raised its holdings in Design Therapeutics by 11.5% during the fourth quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $236,000 after purchasing an additional 2,600 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in 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 purchasing an additional 2,618 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in Design Therapeutics during the fourth quarter worth approximately $26,000. 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.