Design Therapeutics, Inc. (NASDAQ:DSGN) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Design Therapeutics has a “Moderate Buy” consensus rating from nine analysts, with seven buy ratings, one strong buy, and one sell. The average 12-month price target is $17.86, versus a recent price of $10.24.
• Institutional investors hold 56.64% of the company, with BlackRock and several life-sciences funds establishing significant positions during the second quarter.
• Design Therapeutics reported quarterly EPS of -$0.32, better than the -$0.34 analyst estimate. Analysts expect a full-year loss of approximately $1.41 per share, while the clinical-stage biotech continues developing GeneTAC medicines for genetic diseases.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.86.

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a research report on Thursday, October 15th. Wells Fargo & Company initiated coverage on shares of Design Therapeutics in a research note on Friday, October 2nd. They issued an "overweight" rating and a $26.00 target price for the company.

Hedge Funds Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Design Therapeutics during the 2nd quarter worth $38,491,000. Trails Edge Capital Partners LP acquired a new position in shares of Design Therapeutics in the 2nd quarter valued at approximately $28,958,550. Frazier Life Sciences Management L.P. acquired a new position in shares of Design Therapeutics in the 2nd quarter valued at approximately $26,189,000. Almitas Capital LLC acquired a new stake in Design Therapeutics during the 2nd quarter worth approximately $14,859,000. Finally, Dimensional Fund Advisors LP raised its holdings in Design Therapeutics by 45.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company's stock worth $4,593,000 after buying an additional 133,919 shares during the period. 56.64% of the stock is owned by institutional investors.

Design Therapeutics Stock Performance

DSGN opened at $10.24 on Friday. The company has a fifty day moving average price of $13.12 and a two-hundred day moving average price of $12.95. The firm has a market capitalization of $640.84 million, a PE ratio of -8.68 and a beta of 1.68. Design Therapeutics has a 52 week low of $5.70 and a 52 week high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.02. Equities analysts forecast that Design Therapeutics will post -1.41 EPS for the current year.

Design Therapeutics Company Profile

Design Therapeutics, Inc NASDAQ: DSGN is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company's GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company's research has focused on disorders affecting the nervous system, muscles and eyes.

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