Design Therapeutics (NASDAQ:DSGN) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) saw an uptick in trading volume on Tuesday . 469,406 shares changed hands during trading, an increase of 10% from the previous session’s volume of 426,898 shares.The stock last traded at $10.43 and had previously closed at $10.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $20.00 price target on shares of Design Therapeutics in a research note on Wednesday, April 29th. Jefferies Financial Group assumed coverage on shares of Design Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $15.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Royal Bank Of Canada raised their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Oppenheimer raised their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Design Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Design Therapeutics Trading Up 0.4%

The firm has a market cap of $670.95 million, a P/E ratio of -8.93 and a beta of 1.73. The stock has a 50 day simple moving average of $12.18 and a 200-day simple moving average of $10.30.

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, beating the consensus estimate of ($0.36) by $0.07. As a group, equities analysts forecast that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of DSGN. DLD Asset Management LP purchased a new position in Design Therapeutics during the third quarter worth $376,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Design Therapeutics by 206.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 34,982 shares of the company’s stock worth $263,000 after buying an additional 23,580 shares during the period. AlphaCentric Advisors LLC boosted its holdings in Design Therapeutics by 4.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock valued at $226,000 after acquiring an additional 969 shares during the period. Strs Ohio grew its position in Design Therapeutics by 77.4% in the 1st quarter. Strs Ohio now owns 44,700 shares of the company’s stock valued at $476,000 after acquiring an additional 19,500 shares during the last quarter. Finally, Baker BROS. Advisors LP increased its stake in Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after purchasing an additional 520,217 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.