Design Therapeutics (NASDAQ:DSGN) Stock Price Up 8.9% – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price was up 8.9% during mid-day trading on Wednesday . The company traded as high as $11.55 and last traded at $11.6790. 171,232 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 524,403 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

A number of equities analysts have weighed in on DSGN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th. Oppenheimer lifted their target price on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price target on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Finally, Cantor Fitzgerald initiated coverage on Design Therapeutics in a research note on Tuesday, May 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Design Therapeutics Stock Performance

The firm has a fifty day moving average of $12.28 and a 200 day moving average of $10.82. The firm has a market capitalization of $777.00 million, a PE ratio of -10.37 and a beta of 1.63.

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

Institutional Investors Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Design Therapeutics in the 4th quarter valued at about $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 during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Design Therapeutics in the fourth quarter worth about $67,000. ADAR1 Capital Management LLC acquired a new position in shares of Design Therapeutics in the first quarter worth about $106,000. Finally, Royal Bank of Canada lifted its stake in shares of Design Therapeutics by 1,681.5% in the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock worth $121,000 after acquiring an additional 10,728 shares in the last quarter. Hedge funds and other 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.