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

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price gapped up prior to trading on Monday . The stock had previously closed at $14.37, but opened at $15.76. Design Therapeutics shares last traded at $11.8650, with a volume of 1,328,058 shares traded.

Wall Street Analysts Forecast Growth

DSGN has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research report on Wednesday, April 29th. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Oppenheimer lifted their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Trading Down 2.0%

The company has a market cap of $655.21 million, a PE ratio of -8.74 and a beta of 1.73. The firm’s 50-day simple moving average is $12.19 and its two-hundred day simple moving average is $10.32.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.07. As a group, analysts predict that Design Therapeutics, Inc. will post -1.36 EPS for the current year.

Institutional Trading of Design Therapeutics

Several large investors have recently bought and sold shares of DSGN. Vivo Capital LLC purchased a new stake in Design Therapeutics during the 4th quarter worth approximately $15,129,000. RA Capital Management L.P. boosted its holdings in shares of Design Therapeutics by 207.2% in the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after acquiring an additional 985,682 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Design Therapeutics in the 1st quarter valued at $2,492,000. Baker BROS. Advisors LP boosted its holdings in shares of Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after acquiring an additional 520,217 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Design Therapeutics by 1,995.8% in the 4th quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock valued at $2,868,000 after acquiring an additional 291,168 shares during 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.