Design Therapeutics (NASDAQ:DSGN) Reaches New 12-Month High - Should You Buy?

Key Points

• Design Therapeutics hit a new 52-week high of $12.98 (last $12.9240) on volume of 99,629 shares and has a market capitalization of about $776.4 million.
• Analyst sentiment is mixed but positive on average — MarketBeat shows a "Moderate Buy" consensus with an average price target of $15.20, while firms like Jefferies and Oppenheimer started coverage with bullish ratings and Weiss maintained a sell.
• The company reported ($0.27) EPS for the quarter, beating estimates by $0.11 though analysts expect a -0.91 EPS for the year, and institutional investors own about 56.64% of the stock.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $12.98 and last traded at $12.9240, with a volume of 99629 shares traded. The stock had previously closed at $12.64.

Analyst Ratings Changes

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

Design Therapeutics Trading Down 0.4%

The stock has a market capitalization of $776.43 million, a price-to-earnings ratio of -10.32 and a beta of 1.57. The stock's 50 day moving average is $10.66 and its two-hundred day moving average is $9.16.

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

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSGN. Baker BROS. Advisors LP grew its position in Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company's stock valued at $20,946,000 after purchasing an additional 520,217 shares in the last quarter. Vivo Capital LLC bought a new position in Design Therapeutics in the fourth quarter valued at $15,129,000. RA Capital Management L.P. grew its position in 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 valued at $13,708,000 after purchasing an additional 985,682 shares in the last quarter. Geode Capital Management LLC grew its position in Design Therapeutics by 2.4% in the second 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 in the last quarter. Finally, State Street Corp grew 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 valued at $6,075,000 after purchasing an additional 13,239 shares in the last quarter. 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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