Design Therapeutics (NASDAQ:DSGN) Reaches New 12-Month High – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN) shares reached a new 52-week high during trading on Thursday . The company traded as high as $11.30 and last traded at $11.1750, with a volume of 144323 shares traded. The stock had previously closed at $11.01.

Analyst Ratings Changes

DSGN has been the subject of several research reports. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 price target on the stock. 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 objective for the company. Craig Hallum started coverage on shares of Design Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.20.

Design Therapeutics Trading Up 2.0%

The stock has a fifty day moving average of $10.34 and a 200-day moving average of $8.76. The firm has a market capitalization of $692.51 million, a price-to-earnings ratio of -9.19 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Monday, March 9th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.11. As a group, equities research analysts forecast that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DSGN. Torren Management LLC purchased a new stake in shares of Design Therapeutics in the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Invesco Ltd. raised its stake in Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares during the period. Velan Capital Investment Management LP raised its stake in Design Therapeutics by 42.9% during 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 during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Design Therapeutics in the fourth quarter valued at $67,000. 56.64% of the stock is owned by hedge funds and other 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.