Design Therapeutics (NASDAQ:DSGN) Stock Price Up 6.8% – Still a Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) rose 6.8% during mid-day trading on Monday . The company traded as high as $12.25 and last traded at $11.9950. Approximately 212,423 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 265,560 shares. The stock had previously closed at $11.23.

Wall Street Analyst Weigh In

DSGN has been the subject of a number of research reports. Royal Bank Of Canada raised their price objective on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Finally, Oppenheimer started coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Design Therapeutics Stock Performance

The firm’s fifty day simple moving average is $10.45 and its 200-day simple moving average is $8.95. The stock has a market cap of $776.14 million, a P/E ratio of -10.31 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.11. Analysts predict that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DSGN. Corient Private Wealth LLC bought a new stake in shares of Design Therapeutics in the 4th quarter valued at $253,000. Virtu Financial LLC bought a new stake in shares of Design Therapeutics in the 4th quarter valued at $212,000. Invesco Ltd. increased its stake 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 in the last quarter. XTX Topco Ltd increased its stake in shares of Design Therapeutics by 197.3% in the 4th quarter. XTX Topco Ltd now owns 35,284 shares of the company’s stock valued at $331,000 after acquiring an additional 23,416 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Design Therapeutics by 162.8% in the 4th quarter. Millennium Management LLC now owns 180,866 shares of the company’s stock valued at $1,697,000 after acquiring an additional 112,043 shares in the last quarter. 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.