Design Therapeutics (NASDAQ:DSGN) Shares Gap Up – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN) gapped up before the market opened on Monday . The stock had previously closed at $11.78, but opened at $12.86. Design Therapeutics shares last traded at $12.27, with a volume of 30,041 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DSGN shares. Cantor Fitzgerald assumed coverage on shares of Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Oppenheimer boosted their price target on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Design Therapeutics Stock Performance

The company has a market cap of $744.46 million, a PE ratio of -9.96 and a beta of 1.58. The company has a fifty day moving average of $12.33 and a two-hundred day moving average of $11.60.

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

Institutional Trading of Design Therapeutics

Hedge funds have recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Design Therapeutics in the 4th quarter valued at about $26,000. Russell Investments Group Ltd. grew its holdings in Design Therapeutics by 69.6% in 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 during the last quarter. Invesco Ltd. increased its position in shares of Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Design Therapeutics in the 4th quarter worth $67,000. Finally, Jane Street Group LLC purchased a new position in Design Therapeutics during the 1st quarter worth $70,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.