Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

Several research analysts have commented on DSGN shares. Craig Hallum began coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Finally, Oppenheimer assumed coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price on the stock.

Design Therapeutics Stock Up 0.2%

DSGN opened at $10.07 on Tuesday. The company has a 50 day moving average of $9.72 and a two-hundred day moving average of $7.64. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $10.97. The company has a market cap of $573.59 million, a P/E ratio of -8.46 and a beta of 1.63.

Institutional Trading of Design Therapeutics

Several large investors have recently modified their holdings of the business. Torren Management LLC acquired a new position in shares of Design Therapeutics in the fourth quarter worth about $26,000. Los Angeles Capital Management LLC purchased a new stake in Design Therapeutics during the 2nd quarter worth approximately $43,000. Invesco Ltd. raised its position in shares of 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 purchasing an additional 3,033 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its position in shares of Design Therapeutics by 42.9% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after buying an additional 6,000 shares in the last quarter. 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. 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.