Design Therapeutics, Inc. (NASDAQ:DSGN) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Design Therapeutics a “Moderate Buy”: Six analysts recommend buying the stock, one rates it a strong buy, and one recommends selling. The average 12-month price target is $16.50.
• Design Therapeutics shares opened at $12.62, with a market capitalization of approximately $789.8 million and a 12-month trading range of $5.28 to $17.25. The company recently reported a quarterly loss of $0.32 per share, slightly better than expectations.
• Institutional investors own 56.64% of the stock, with several funds recently initiating or increasing positions. The clinical-stage biotechnology company is developing GeneTAC small-molecule therapies for genetic diseases.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.50.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research report on Friday, July 17th.

Design Therapeutics Price Performance

NASDAQ:DSGN opened at $12.62 on Wednesday. The business has a 50 day simple moving average of $13.82 and a 200 day simple moving average of $12.89. The firm has a market capitalization of $789.76 million, a P/E ratio of -10.69 and a beta of 1.66. Design Therapeutics has a 12-month low of $5.28 and a 12-month high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. Research analysts anticipate that Design Therapeutics will post -1.41 EPS for the current fiscal year.

Institutional Trading of Design Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. AlphaCentric Advisors LLC boosted its stake in Design Therapeutics by 4.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company's stock valued at $226,000 after purchasing an additional 969 shares during the last quarter. State of Wyoming purchased a new stake in shares of Design Therapeutics during the second quarter valued at approximately $37,000. Legal & General Group Plc purchased a new stake in shares of Design Therapeutics during the second quarter valued at approximately $43,000. Public Employees Retirement System of Ohio lifted its holdings in Design Therapeutics by 114.2% during the first quarter. Public Employees Retirement System of Ohio now owns 15,193 shares of the company's stock worth $162,000 after acquiring an additional 8,100 shares during the period. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Design Therapeutics during the 1st quarter worth $106,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

Design Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases. The company's research platform, known as GeneTACs (Gene Targeted Chimeras), is designed to reactivate genes that have been silenced or disrupted by pathogenic genetic changes.

Design Therapeutics' lead programs have focused on diseases associated with nucleotide repeat expansions. Its pipeline has included DT-216, an investigational therapy intended to restore production of the frataxin protein in patients with Friedreich's ataxia, a rare inherited neurological disorder.

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