Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.20.

Several brokerages recently issued reports on DSGN. Royal Bank of Canada cut Design Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $23.00 to $7.00 in a report on Tuesday, August 15th. Leerink Partnrs downgraded Design Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 15th. SVB Securities downgraded Design Therapeutics from an “outperform” rating to a “market perform” rating and set a $6.00 price target for the company. in a research report on Tuesday, August 15th. Wedbush downgraded Design Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $6.00 in a research report on Tuesday, August 15th. Finally, SVB Leerink reissued a “market perform” rating and set a $6.00 price target on shares of Design Therapeutics in a research report on Tuesday, August 15th.

Insider Activity

In other Design Therapeutics news, Director Deepa Prasad acquired 12,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $2.31 per share, with a total value of $27,720.00. Following the completion of the transaction, the director now directly owns 23,806 shares in the company, valued at $54,991.86. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 27.80% of the company’s stock.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc grew its position in Design Therapeutics by 28.0% during the second quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock valued at $45,000 after acquiring an additional 711 shares during the period. Tower Research Capital LLC TRC grew its position in Design Therapeutics by 152.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,201 shares during the period. Citigroup Inc. grew its position in Design Therapeutics by 214.5% during the second quarter. Citigroup Inc. now owns 10,716 shares of the company’s stock valued at $68,000 after acquiring an additional 7,309 shares during the period. XTX Topco Ltd purchased a new stake in Design Therapeutics during the second quarter valued at about $68,000. Finally, Balyasny Asset Management LLC purchased a new stake in Design Therapeutics during the third quarter valued at about $186,000. Hedge funds and other institutional investors own 69.47% of the company’s stock.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $2.65 on Friday. The stock has a fifty day moving average price of $5.30 and a 200 day moving average price of $5.92. The stock has a market cap of $148.37 million, a PE ratio of -1.98 and a beta of 1.57. Design Therapeutics has a 1 year low of $1.94 and a 1 year high of $25.03.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.05. As a group, equities research analysts predict that Design Therapeutics will post -1.58 earnings per share for the current year.

About Design Therapeutics

Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.