Design Therapeutics (NASDAQ:DSGN) Sets New 12-Month High Following Analyst Upgrade

Design Therapeutics, Inc. (NASDAQ:DSGN)’s stock price hit a new 52-week high during trading on Wednesday after Craig Hallum upgraded the stock to a strong-buy rating. The company traded as high as $9.94 and last traded at $9.3350, with a volume of 121262 shares trading hands. The stock had previously closed at $8.94.

A number of other analysts have also recently issued reports on DSGN. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $6.00 to $13.00 in a research note on Thursday, November 20th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. Finally, Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $14.00.

Institutional Trading of Design Therapeutics

Institutional investors have recently bought and sold shares of the company. Woodline Partners LP acquired a new position in Design Therapeutics in the 1st quarter worth about $2,492,000. RA Capital Management L.P. bought a new stake in shares of Design Therapeutics in the 3rd quarter valued at approximately $3,582,000. Nuveen LLC acquired a new position in Design Therapeutics in the first quarter worth approximately $568,000. Wellington Management Group LLP bought a new position in Design Therapeutics during the first quarter valued at approximately $546,000. Finally, Driehaus Capital Management LLC lifted its stake in Design Therapeutics by 17.7% in the first quarter. Driehaus Capital Management LLC now owns 913,399 shares of the company’s stock valued at $3,526,000 after acquiring an additional 137,317 shares during the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Stock Up 0.5%

The company has a market capitalization of $559.39 million, a P/E ratio of -8.25 and a beta of 1.63. The company’s 50-day simple moving average is $7.21 and its 200 day simple moving average is $5.48.

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. As a group, equities research analysts forecast that Design Therapeutics, Inc. will post -0.91 earnings per share 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.