Design Therapeutics (NASDAQ:DSGN) Shares Gap Up – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) gapped up before the market opened on Monday . The stock had previously closed at $11.78, but opened at $12.86. Design Therapeutics shares last traded at $12.27, with a volume of 30,041 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer boosted their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Finally, Cantor Fitzgerald began coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Design Therapeutics Stock Up 1.2%

The company has a 50-day moving average price of $12.33 and a two-hundred day moving average price of $11.60. The company has a market capitalization of $744.46 million, a PE ratio of -9.96 and a beta of 1.58.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. As a group, equities analysts anticipate that Design Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP increased its holdings in shares of Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after acquiring an additional 520,217 shares in the last quarter. Vivo Capital LLC bought a new stake in shares of Design Therapeutics during the fourth quarter valued at approximately $15,129,000. RA Capital Management L.P. raised its holdings in Design Therapeutics by 207.2% in the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock worth $13,708,000 after acquiring an additional 985,682 shares during the last quarter. Geode Capital Management LLC lifted its position in Design Therapeutics by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after acquiring an additional 18,511 shares in the last quarter. Finally, State Street Corp boosted its stake in Design Therapeutics by 2.1% during the 4th quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after purchasing an additional 13,239 shares during the last quarter. Institutional investors own 56.64% of the company’s stock.

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.