Design Therapeutics (NASDAQ:DSGN) Rating Increased to Overweight at Piper Sandler

Design Therapeutics (NASDAQ:DSGN - Get Free Report) was upgraded by investment analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $12.00 price target on the stock, up from their prior price target of $6.00. Piper Sandler's price target indicates a potential upside of 155.86% from the company's previous close.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.00 price objective on shares of Design Therapeutics in a research note on Wednesday, March 20th. Wedbush reissued a "neutral" rating and set a $5.00 price target on shares of Design Therapeutics in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Design Therapeutics presently has a consensus rating of "Hold" and an average price target of $6.60.

Design Therapeutics Trading Up 28.5 %

NASDAQ DSGN traded up $1.04 on Tuesday, reaching $4.69. The company's stock had a trading volume of 1,786,061 shares, compared to its average volume of 270,073. The firm has a market cap of $264.94 million, a PE ratio of -3.91 and a beta of 1.83. Design Therapeutics has a 52 week low of $1.94 and a 52 week high of $8.47. The business has a 50-day moving average price of $3.41 and a 200 day moving average price of $2.74.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.11. Analysts anticipate that Design Therapeutics will post -1.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Design Therapeutics

In other news, Director John P. Schmid bought 17,809 shares of the business's stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $3.74 per share, for a total transaction of $66,605.66. Following the completion of the acquisition, the director now owns 26,965 shares in the company, valued at approximately $100,849.10. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John P. Schmid acquired 9,156 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the completion of the acquisition, the director now directly owns 9,156 shares in the company, valued at approximately $33,144.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Schmid acquired 17,809 shares of the company's stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $3.74 per share, for a total transaction of $66,605.66. Following the completion of the acquisition, the director now owns 26,965 shares of the company's stock, valued at $100,849.10. The disclosure for this purchase can be found here. Insiders own 25.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BML Capital Management LLC bought a new position in Design Therapeutics in the fourth quarter valued at $2,728,000. Barclays PLC grew its position in shares of Design Therapeutics by 353.1% in the 3rd quarter. Barclays PLC now owns 71,678 shares of the company's stock valued at $170,000 after acquiring an additional 55,858 shares during the period. RTW Investments LP grew its position in shares of Design Therapeutics by 60.8% in the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company's stock valued at $5,931,000 after acquiring an additional 949,955 shares during the period. Algert Global LLC grew its position in shares of Design Therapeutics by 83.3% in the 3rd quarter. Algert Global LLC now owns 35,620 shares of the company's stock valued at $84,000 after acquiring an additional 16,190 shares during the period. Finally, Jump Financial LLC grew its position in shares of Design Therapeutics by 284.7% in the 3rd quarter. Jump Financial LLC now owns 46,700 shares of the company's stock valued at $110,000 after acquiring an additional 34,561 shares during the period. Institutional investors own 56.64% of the company's stock.

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.