Design Therapeutics, Inc. (NASDAQ:DSGN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Design Therapeutics has a consensus analyst rating of “Moderate Buy” from eight covering analysts, with an average 12-month price target of $16.50. The mix includes six buy ratings, one strong buy, and one sell.
• The stock was down 6.7% in Friday trading, opening at $12.61, while its 50-day moving average was $12.70 and its 200-day moving average was $11.49. The company’s shares have traded between $3.76 and $17.25 over the past year.
• In its latest quarterly report, Design Therapeutics posted an earnings loss of ($0.29) per share, beating analyst expectations of ($0.36) by $0.07. Analysts expect the company to report -1.36 EPS for the current year.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $16.50.

A number of equities analysts have recently commented on DSGN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a report on Monday, April 20th. Cantor Fitzgerald began coverage on Design Therapeutics in a research note on Tuesday, May 12th. They set an "overweight" rating for the company. Wall Street Zen upgraded shares of Design Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Oppenheimer lifted their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Piper Sandler reissued an "overweight" rating and issued a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday, April 29th.

Design Therapeutics Trading Down 6.7%

DSGN stock opened at $12.61 on Friday. The firm has a 50 day moving average of $12.70 and a 200-day moving average of $11.49. The firm has a market capitalization of $787.62 million, a P/E ratio of -10.51 and a beta of 1.58. Design Therapeutics has a 12 month low of $3.76 and a 12 month high of $17.25.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.07. Sell-side analysts predict that Design Therapeutics will post -1.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP boosted its stake in Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company's stock worth $20,946,000 after purchasing an additional 520,217 shares in the last quarter. Vivo Capital LLC bought a new stake in Design Therapeutics in the 4th quarter worth approximately $15,129,000. RA Capital Management L.P. grew its holdings 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 worth $13,708,000 after acquiring an additional 985,682 shares during the period. Geode Capital Management LLC increased its position in shares of Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company's stock valued at $2,676,000 after purchasing an additional 18,511 shares during the last quarter. Finally, State Street Corp raised its position in Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company's stock worth $6,075,000 after acquiring an additional 13,239 shares during the period. Hedge funds and other institutional investors 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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