Design Therapeutics, Inc. (NASDAQ:DSGN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.00.

Several research firms have issued reports on DSGN. Wall Street Zen downgraded Design Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $6.00 to $13.00 in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. Finally, Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds have recently modified their holdings of DSGN. Acadian Asset Management LLC increased its position in shares of Design Therapeutics by 11.2% during the 1st quarter. Acadian Asset Management LLC now owns 630,953 shares of the company’s stock worth $2,434,000 after purchasing an additional 63,349 shares during the last quarter. Almitas Capital LLC boosted its holdings in shares of Design Therapeutics by 9.8% in the 1st quarter. Almitas Capital LLC now owns 1,452,896 shares of the company’s stock valued at $5,608,000 after buying an additional 129,229 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Design Therapeutics in the first quarter valued at $546,000. Nuveen LLC acquired a new position in Design Therapeutics during the first quarter worth $568,000. Finally, MPM Bioimpact LLC raised its position in Design Therapeutics by 0.6% during the first quarter. MPM Bioimpact LLC now owns 562,943 shares of the company’s stock worth $2,173,000 after acquiring an additional 3,396 shares in the last quarter. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $9.63 on Monday. The company has a market capitalization of $548.56 million, a P/E ratio of -8.09 and a beta of 1.63. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $10.31. The company’s 50 day moving average price is $8.14 and its two-hundred day moving average price is $6.13.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. Analysts forecast that Design Therapeutics will post -0.91 earnings per share for the current year.

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.