Design Therapeutics (NASDAQ:DSGN) Shares Gap Up – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.10, but opened at $11.80. Design Therapeutics shares last traded at $10.84, with a volume of 39,548 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DSGN shares. Piper Sandler restated an “overweight” rating and set a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Monday, April 20th. Royal Bank Of Canada increased their target price on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald started coverage on Design Therapeutics in a research note on Tuesday, May 12th. They set an “overweight” rating for the company. Finally, Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Trading Down 3.3%

The firm has a fifty day simple moving average of $12.29 and a 200 day simple moving average of $10.51. The stock has a market cap of $670.51 million, a price-to-earnings ratio of -8.93 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, equities analysts expect that Design Therapeutics, Inc. will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Design Therapeutics

Several large investors have recently added to or reduced their stakes in DSGN. DLD Asset Management LP acquired a new position in shares of Design Therapeutics in the 3rd quarter worth approximately $376,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Design Therapeutics by 206.8% in the 3rd 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 in the last quarter. AlphaCentric Advisors LLC raised its holdings in shares of Design Therapeutics by 4.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock worth $226,000 after buying an additional 969 shares in the last quarter. Strs Ohio raised its holdings in shares of Design Therapeutics by 77.4% in the 1st quarter. Strs Ohio now owns 44,700 shares of the company’s stock worth $476,000 after buying an additional 19,500 shares in the last quarter. Finally, Elmind Capital LP acquired a new position in shares of Design Therapeutics in the 4th quarter worth approximately $1,950,000. 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. 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.