Design Therapeutics (NASDAQ:DSGN) Sees Unusually-High Trading Volume – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares saw an uptick in trading volume on Monday . 1,054,608 shares traded hands during mid-day trading, an increase of 321% from the previous session’s volume of 250,747 shares.The stock last traded at $10.24 and had previously closed at $10.18.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DSGN shares. Oppenheimer assumed coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. Leerink Partners set a $14.00 price target on Design Therapeutics and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Royal Bank Of Canada raised 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. Wall Street Zen downgraded Design Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Trading Down 4.3%

The firm has a market cap of $577.00 million, a price-to-earnings ratio of -8.51 and a beta of 1.63. The stock has a 50-day moving average of $9.46 and a 200-day moving average of $7.05.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. As a group, research analysts expect that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP acquired a new stake in shares of Design Therapeutics in the first quarter valued at approximately $2,492,000. Jane Street Group LLC bought a new position in Design Therapeutics in the 1st quarter worth approximately $70,000. Strs Ohio acquired a new stake in Design Therapeutics in the 1st quarter valued at approximately $87,000. Los Angeles Capital Management LLC bought a new stake in Design Therapeutics during the 2nd quarter valued at $43,000. Finally, Geode Capital Management LLC boosted its position in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock worth $2,676,000 after acquiring an additional 18,511 shares during the period. 56.64% of the stock is owned by institutional investors and hedge funds.

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.