Design Therapeutics (NASDAQ:DSGN) Coverage Initiated by Analysts at Craig Hallum

Equities research analysts at Craig Hallum assumed coverage on shares of Design Therapeutics (NASDAQ:DSGN) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating on the stock.

A number of other research firms also recently commented on DSGN. Leerink Partnrs upgraded Design Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Finally, Leerink Partners set a $14.00 target price on shares of Design Therapeutics and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $14.00.

Design Therapeutics Price Performance

Shares of NASDAQ DSGN opened at $9.82 on Wednesday. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $10.02. The firm has a market capitalization of $559.39 million, a P/E ratio of -8.25 and a beta of 1.63. The company’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $5.48.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Sell-side analysts expect that Design Therapeutics will post -0.91 EPS for the current fiscal year.

Institutional Trading of Design Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in Design Therapeutics in the second quarter valued at approximately $43,000. Russell Investments Group Ltd. raised its holdings 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 period. Invesco Ltd. lifted its position in Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares in the last quarter. Velan Capital Investment Management LP acquired a new position in Design Therapeutics in the 1st quarter worth $54,000. Finally, Jane Street Group LLC acquired a new position in Design Therapeutics in the 1st quarter worth $70,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

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.