Design Therapeutics Target of Unusually High Options Trading (NASDAQ:DSGN)

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of some unusual options trading on Tuesday. Investors purchased 5,102 call options on the stock. This represents an increase of 575% compared to the typical volume of 756 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DSGN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Oppenheimer lifted their price target on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Royal Bank Of Canada lifted their price target on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Design Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AlphaCentric Advisors LLC lifted its holdings in shares of Design Therapeutics by 4.8% during the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock worth $226,000 after buying an additional 969 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Design Therapeutics by 11.1% during the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after buying an additional 2,459 shares during the last quarter. Strs Ohio lifted its holdings in shares of Design Therapeutics by 11.5% during the fourth quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $236,000 after buying an additional 2,600 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after buying an additional 2,618 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of Design Therapeutics during the fourth quarter worth approximately $26,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Trading Down 2.0%

Design Therapeutics stock traded down $0.21 during trading hours on Tuesday, reaching $10.49. 832,276 shares of the company were exchanged, compared to its average volume of 432,493. The firm has a market cap of $655.21 million, a price-to-earnings ratio of -8.75 and a beta of 1.73. The stock has a 50-day moving average of $12.18 and a 200 day moving average of $10.30. Design Therapeutics has a 12 month low of $3.33 and a 12 month high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. As a group, research analysts forecast that Design Therapeutics will post -1.36 EPS for the current year.

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.