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

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) gapped up before the market opened on Monday . The stock had previously closed at $14.37, but opened at $15.76. Design Therapeutics shares last traded at $11.8650, with a volume of 1,328,058 shares traded.

Analyst Ratings Changes

DSGN has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Oppenheimer raised their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group started coverage on Design Therapeutics in a research note on Monday, March 16th. They set a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Price Performance

The firm has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $10.27. The company has a market cap of $659.48 million, a price-to-earnings ratio of -8.93 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. Research analysts anticipate that Design Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

A number of institutional investors have recently made changes to their positions in DSGN. Baker BROS. Advisors LP grew its stake in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after buying an additional 520,217 shares in the last quarter. Vivo Capital LLC acquired a new stake in shares of Design Therapeutics in the fourth quarter valued at $15,129,000. RA Capital Management L.P. grew its stake in shares of Design Therapeutics by 207.2% in the fourth quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after buying an additional 985,682 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Design Therapeutics by 2.4% in 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. Finally, State Street Corp grew its stake in shares of Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after buying an additional 13,239 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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. 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.