Design Therapeutics (NASDAQ:DSGN) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Design Therapeutics (NASDAQ:DSGN) from a neutral rating to an overweight rating in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has $12.00 target price on the stock, up from their prior target price of $6.00.

A number of other equities analysts also recently commented on the stock. Wedbush reaffirmed a neutral rating and set a $5.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed a sector perform rating and set a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $6.60.

Design Therapeutics Price Performance

Shares of Design Therapeutics stock opened at $4.69 on Tuesday. Design Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $8.47. The firm has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $2.74. The company has a market cap of $264.94 million, a PE ratio of -3.91 and a beta of 1.83.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. Analysts expect that Design Therapeutics will post -1.26 earnings per share for the current fiscal year.

Insider Activity at Design Therapeutics

In other news, Director John P. Schmid purchased 9,156 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $3.62 per share, with a total value of $33,144.72. Following the acquisition, the director now directly owns 9,156 shares of the company’s stock, valued at approximately $33,144.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John P. Schmid purchased 17,809 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $3.74 per share, with a total value of $66,605.66. Following the acquisition, the director now directly owns 26,965 shares of the company’s stock, valued at approximately $100,849.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Schmid purchased 9,156 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $3.62 per share, with a total value of $33,144.72. Following the completion of the acquisition, the director now directly owns 9,156 shares in the company, valued at $33,144.72. The disclosure for this purchase can be found here. 25.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Design Therapeutics in the 3rd quarter valued at about $47,000. Strs Ohio acquired a new stake in Design Therapeutics in the 3rd quarter valued at about $171,000. Jump Financial LLC increased its position in Design Therapeutics by 284.7% in the 3rd quarter. Jump Financial LLC now owns 46,700 shares of the company’s stock valued at $110,000 after acquiring an additional 34,561 shares in the last quarter. Barclays PLC increased its position in Design Therapeutics by 353.1% in the 3rd quarter. Barclays PLC now owns 71,678 shares of the company’s stock valued at $170,000 after acquiring an additional 55,858 shares in the last quarter. Finally, Algert Global LLC increased its position in Design Therapeutics by 83.3% in the 3rd quarter. Algert Global LLC now owns 35,620 shares of the company’s stock valued at $84,000 after acquiring an additional 16,190 shares in the last quarter. 56.64% of the stock is owned by institutional investors.

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.