Design Therapeutics (NASDAQ:DSGN) Hits New 12-Month High – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.97 and last traded at $10.59, with a volume of 185661 shares changing hands. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

DSGN has been the subject of a number of research reports. Craig Hallum assumed coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective for the company. Wall Street Zen lowered shares of Design Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. Finally, Leerink Partners set a $14.00 target price on Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Design Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Design Therapeutics Price Performance

The firm has a market capitalization of $602.07 million, a PE ratio of -8.88 and a beta of 1.63. The firm has a fifty day moving average price of $9.51 and a 200 day moving average price of $7.07.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. On average, sell-side analysts expect that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Institutional Trading of Design Therapeutics

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Design Therapeutics by 2.4% during the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after buying an additional 18,511 shares in the last quarter. Woodline Partners LP acquired a new stake in Design Therapeutics during the 1st quarter worth about $2,492,000. RA Capital Management L.P. acquired a new position in shares of Design Therapeutics in the 3rd quarter valued at about $3,582,000. Bridgeway Capital Management LLC lifted its position in shares of Design Therapeutics by 65.4% in the second quarter. Bridgeway Capital Management LLC now owns 188,200 shares of the company’s stock worth $634,000 after purchasing an additional 74,400 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of Design Therapeutics by 33.2% during the fourth quarter. Palumbo Wealth Management LLC now owns 69,377 shares of the company’s stock worth $651,000 after purchasing an additional 17,296 shares during the period. Hedge funds and other institutional investors 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. 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.