Design Therapeutics (NASDAQ:DSGN) Sets New 52-Week High - Still a Buy?

Key Points

• Design Therapeutics hit a new 52-week high of $13.54 and was last trading around $13.27 on volume of ~205,000 shares, up from the prior close of $13.16.
• Analysts are mixed but generally positive — the consensus rating is a Moderate Buy with an average target of $15.20, with notable targets including Oppenheimer $18, Jefferies $15 and RBC $14.
• The company has a market cap of $817M and a negative PE (-10.84); it recently beat quarterly EPS estimates (–$0.27 vs. –$0.38) and roughly 56.6% of the stock is held by institutions.

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.54 and last traded at $13.2680, with a volume of 204973 shares trading hands. The stock had previously closed at $13.16.

Analyst Ratings Changes

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

Design Therapeutics Stock Performance

The firm has a market cap of $817.19 million, a PE ratio of -10.84 and a beta of 1.57. The stock's 50 day simple moving average is $10.88 and its 200 day simple moving average is $9.34.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.11. As a group, analysts anticipate that Design Therapeutics, Inc. will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

Hedge funds have recently made changes to their positions in the business. Torren Management LLC bought a new stake in shares of Design Therapeutics in the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. lifted its holdings in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock worth $48,000 after acquiring an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Design Therapeutics in the 4th quarter worth approximately $67,000. AXQ Capital LP bought a new stake in shares of Design Therapeutics in the 4th quarter worth approximately $110,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Design Therapeutics in the 4th quarter worth approximately $131,000. 56.64% of the stock is currently owned by institutional investors.

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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