Design Therapeutics (NASDAQ:DSGN) Hits New 1-Year High – What’s Next?

Design Therapeutics, Inc. (NASDAQ:DSGN) reached a new 52-week high during trading on Wednesday . The company traded as high as $11.01 and last traded at $10.64, with a volume of 24151 shares trading hands. The stock had previously closed at $10.60.

Analysts Set New Price Targets

Several analysts recently commented on the company. 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. Craig Hallum assumed coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $13.00 in a research report on Thursday, November 20th. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Design Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Design Therapeutics Price Performance

The stock has a market cap of $621.48 million, a price-to-earnings ratio of -9.17 and a beta of 1.63. The firm’s fifty day moving average price is $9.83 and its two-hundred day moving average price is $7.90.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Design Therapeutics during the fourth quarter worth about $26,000. Los Angeles Capital Management LLC bought a new position in shares of Design Therapeutics during the 2nd quarter worth approximately $43,000. Russell Investments Group Ltd. lifted its position 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 worth $48,000 after buying an additional 2,618 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Design Therapeutics by 26.8% in the second 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. Finally, Velan Capital Investment Management LP grew its holdings in shares of Design Therapeutics by 42.9% in the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors and hedge funds 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.