Design Therapeutics, Inc. (NASDAQ:DSGN) Stock Has Average Target Price of $16.50 According to Brokerages

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.86.

Several equities research analysts have recently issued reports on DSGN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Wells Fargo & Company initiated coverage on shares of Design Therapeutics in a research note on Friday. They issued an “overweight” rating and a $26.00 price target on the stock.

Institutional Trading of Design Therapeutics

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Design Therapeutics in the 2nd quarter valued at about $38,491,000. Trails Edge Capital Partners LP purchased a new stake in shares of Design Therapeutics in the second quarter valued at $28,958,550. Frazier Life Sciences Management L.P. purchased a new stake in shares of Design Therapeutics in the second quarter valued at $26,189,000. Baker BROS. Advisors LP lifted its holdings in shares of Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after acquiring an additional 520,217 shares during the last quarter. Finally, Almitas Capital LLC bought a new stake in shares of Design Therapeutics in the 2nd quarter worth about $14,859,000. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Stock Up 0.8%

Shares of NASDAQ DSGN opened at $12.34 on Wednesday. The firm’s 50-day moving average price is $13.86 and its 200-day moving average price is $12.92. Design Therapeutics has a 52-week low of $5.28 and a 52-week high of $17.25. The company has a market cap of $772.24 million, a PE ratio of -10.46 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. As a group, equities research analysts anticipate that Design Therapeutics will post -1.41 EPS for the current fiscal year.

About Design Therapeutics

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.