Design Therapeutics (NASDAQ:DSGN) Hits New 52-Week High – Still a Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $8.86 and last traded at $8.8250, with a volume of 69353 shares changing hands. The stock had previously closed at $8.35.

Wall Street Analysts Forecast Growth

DSGN has been the subject of a number of research analyst reports. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Design Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Design Therapeutics Price Performance

The company has a market cap of $533.75 million, a P/E ratio of -7.87 and a beta of 1.67. The business’s 50 day moving average price is $6.76 and its 200-day moving average price is $5.21.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data 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. As a group, research analysts forecast that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Design Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in shares of Design Therapeutics during the second quarter worth $43,000. Russell Investments Group Ltd. grew its stake in Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the period. Invesco Ltd. increased its holdings in shares of Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after acquiring an additional 3,033 shares in the last quarter. Velan Capital Investment Management LP bought a new stake in shares of Design Therapeutics in the first quarter worth about $54,000. Finally, Jane Street Group LLC acquired a new stake in shares of Design Therapeutics during the first quarter worth about $70,000. 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.