Design Therapeutics, Inc. (NASDAQ:DSGN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Design Therapeutics has a “Moderate Buy” consensus rating from eight analysts, with six buys, one strong buy, and one sell. The average 12-month price target is $16.50, including targets as high as $21.00.
• The stock opened at $14.33 and has risen above its 50-day and 200-day moving averages, while trading within a 52-week range of $4.23 to $17.25. The company recently reported a quarterly loss of $0.32 per share, beating estimates by $0.02.
• Institutional investors own 56.64% of Design Therapeutics, with firms including Woodline Partners, Geode Capital Management, and Invesco recently initiating or increasing positions.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $16.50.

DSGN has been the subject of several research reports. Piper Sandler reissued an "overweight" rating and issued a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. Cantor Fitzgerald initiated coverage on Design Therapeutics in a research note on Tuesday, May 12th. They set an "overweight" rating on the stock. Wall Street Zen upgraded Design Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Oppenheimer lifted their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a report on Friday, July 17th.

Design Therapeutics Price Performance

Shares of Design Therapeutics stock opened at $14.33 on Tuesday. The firm has a market cap of $896.77 million, a P/E ratio of -12.14 and a beta of 1.63. The firm has a 50 day simple moving average of $12.79 and a 200 day simple moving average of $11.87. Design Therapeutics has a fifty-two week low of $4.23 and a fifty-two week high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. On average, sell-side analysts expect that Design Therapeutics will post -1.41 EPS for the current year.

Institutional Investors Weigh In On Design Therapeutics

Several institutional investors have recently modified their holdings of the business. Woodline Partners LP acquired a new position in Design Therapeutics in the first quarter valued at approximately $2,492,000. Jane Street Group LLC bought a new position in Design Therapeutics in the first quarter valued at approximately $70,000. Strs Ohio bought a new position in Design Therapeutics in the first quarter valued at approximately $87,000. Geode Capital Management LLC grew its holdings in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company's stock worth $2,676,000 after acquiring an additional 18,511 shares during the period. Finally, Invesco Ltd. grew its holdings in Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company's stock worth $48,000 after acquiring an additional 3,033 shares during the period. Institutional investors and hedge funds own 56.64% of the company's stock.

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. 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.

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