Design Therapeutics, Inc. (NASDAQ:DSGN) Stock Has Average Price Target of $17.86

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.86.

A number of research analysts have weighed in on DSGN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Thursday, October 15th. Wells Fargo & Company initiated coverage on shares of Design Therapeutics in a research report on Friday, October 2nd. They issued an “overweight” rating and a $26.00 price objective for the company.

Institutional Trading of Design Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Design Therapeutics during the 2nd quarter worth approximately $38,491,000. Trails Edge Capital Partners LP acquired a new position in shares of Design Therapeutics in the second quarter worth about $28,958,550. Frazier Life Sciences Management L.P. purchased a new position in Design Therapeutics in the second quarter valued at about $26,189,000. Almitas Capital LLC purchased a new position in Design Therapeutics in the second quarter valued at about $14,859,000. Finally, J. Goldman & Co LP acquired a new stake in Design Therapeutics during the 2nd quarter valued at approximately $2,558,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Price Performance

Design Therapeutics stock opened at $10.68 on Friday. The company has a market cap of $668.35 million, a price-to-earnings ratio of -9.05 and a beta of 1.68. Design Therapeutics has a 12 month low of $6.16 and a 12 month high of $17.25. The stock’s 50-day moving average is $12.66 and its 200-day moving average is $12.13.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Research analysts anticipate that Design Therapeutics will post -1.41 EPS for the current year.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company’s research has focused on disorders affecting the nervous system, muscles and eyes.