Design Therapeutics, Inc. (NASDAQ:DSGN) Given Average Rating of “Hold” by Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.60.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Wedbush restated a “neutral” rating and issued a $5.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Finally, Piper Sandler upgraded shares of Design Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $6.00 to $12.00 in a report on Tuesday, May 7th.

Design Therapeutics Price Performance

NASDAQ:DSGN opened at $3.19 on Friday. The firm has a market capitalization of $180.20 million, a price-to-earnings ratio of -3.04 and a beta of 1.82. The company’s 50-day moving average is $3.89 and its two-hundred day moving average is $3.25. Design Therapeutics has a 1-year low of $1.94 and a 1-year high of $8.31.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. As a group, equities analysts anticipate that Design Therapeutics will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BML Capital Management LLC acquired a new position in Design Therapeutics during the 4th quarter worth approximately $2,728,000. Pale Fire Capital SE purchased a new stake in shares of Design Therapeutics during the 4th quarter worth approximately $28,000. Barclays PLC lifted its position in shares of Design Therapeutics by 353.1% during the 3rd quarter. Barclays PLC now owns 71,678 shares of the company’s stock worth $170,000 after buying an additional 55,858 shares during the last quarter. RTW Investments LP lifted its position in shares of Design Therapeutics by 60.8% during the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company’s stock worth $5,931,000 after buying an additional 949,955 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Design Therapeutics by 83.3% during the 3rd quarter. Algert Global LLC now owns 35,620 shares of the company’s stock worth $84,000 after buying an additional 16,190 shares during 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.