Design Therapeutics (NASDAQ:DSGN) Sets New 52-Week High – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN) shares hit a new 52-week high on Thursday . The stock traded as high as $10.39 and last traded at $10.2970, with a volume of 287617 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Craig Hallum started coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Design Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Price Performance

The firm’s 50 day moving average price is $9.15 and its two-hundred day moving average price is $6.82. The firm has a market cap of $614.64 million, a price-to-earnings ratio of -9.03 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, analysts anticipate that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Several hedge funds have recently made changes to their positions in the company. 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 valued at $48,000 after buying an additional 2,618 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Design Therapeutics in the second quarter valued at $43,000. Invesco Ltd. lifted its holdings in Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares during the period. Jane Street Group LLC purchased a new stake in shares of Design Therapeutics during the 1st quarter worth $70,000. Finally, Velan Capital Investment Management LP increased its holdings in shares of Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds 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.