Design Therapeutics (NASDAQ:DSGN) Hits New 1-Year High - What's Next?

Key Points

• Shares hit a new 52-week high, trading as high as $12.75 (last $12.22) on Wednesday with ~364,644 shares changing hands, reflecting recent upward momentum.
• Wall Street leans positive with a consensus rating of "Moderate Buy" (one Strong Buy, four Buy, one Sell) and an average price target of $15.20; notable coverage includes Jefferies (Buy, $15) and Oppenheimer (Outperform, $18), while RBC raised its target to $14.
• Fundamentals and flows: market cap ~$754M, negative P/E (-10.02) and 50-/200-day moving averages of $10.45/$8.95; DSGN beat Q4 EPS estimates ($-0.27 vs. -$0.38) and institutional ownership is 56.64% with sizable inflows from Invesco and Millennium.

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $12.75 and last traded at $12.22, with a volume of 364644 shares traded. The stock had previously closed at $12.53.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen raised Design Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their price target on Design Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on Design Therapeutics in a research report on Monday, March 16th. They issued a "buy" rating and a $15.00 price target for the company. Finally, Oppenheimer assumed coverage on Design Therapeutics in a research report on Wednesday, January 7th. They issued an "outperform" rating and a $18.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.20.

Design Therapeutics Price Performance

The business has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $8.95. The firm has a market capitalization of $753.61 million, a price-to-earnings ratio of -10.02 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.11. On average, research analysts predict that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new position in shares of Design Therapeutics in the fourth quarter valued at about $253,000. Virtu Financial LLC acquired a new position in shares of Design Therapeutics in the fourth quarter valued at about $212,000. Invesco Ltd. increased its holdings in shares of 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 purchasing an additional 291,168 shares during the period. XTX Topco Ltd increased its holdings in shares of Design Therapeutics by 197.3% in the fourth quarter. XTX Topco Ltd now owns 35,284 shares of the company's stock valued at $331,000 after purchasing an additional 23,416 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Design Therapeutics by 162.8% in the fourth quarter. Millennium Management LLC now owns 180,866 shares of the company's stock valued at $1,697,000 after purchasing an additional 112,043 shares during the period. 56.64% of the stock is owned by institutional investors and hedge funds.

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.

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