Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of “Moderate Buy” from Analysts

Design Therapeutics, Inc. (NASDAQ:DSGN) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.00.

Several equities research analysts have commented on the company. Oppenheimer assumed coverage on Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Craig Hallum initiated coverage on shares of Design Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd.

Design Therapeutics Trading Down 1.7%

DSGN stock opened at $10.11 on Tuesday. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $7.78. Design Therapeutics has a 1 year low of $2.60 and a 1 year high of $10.97. The stock has a market cap of $575.91 million, a PE ratio of -8.50 and a beta of 1.63.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DSGN. Vivo Capital LLC acquired a new position in shares of Design Therapeutics during the 4th quarter worth approximately $15,129,000. RA Capital Management L.P. grew its stake in shares of Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after buying an additional 985,682 shares in the last quarter. Woodline Partners LP acquired a new position in Design Therapeutics during the first quarter worth $2,492,000. Baker BROS. Advisors LP raised its position in Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after acquiring an additional 520,217 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Design Therapeutics by 1,995.8% in the fourth 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 during the last quarter. 56.64% of the stock is currently owned by institutional investors.

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.