Design Therapeutics (NASDAQ:DSGN) Sets New 52-Week High on Analyst Upgrade

Design Therapeutics, Inc. (NASDAQ:DSGN) reached a new 52-week high during trading on Wednesday after Craig Hallum upgraded the stock to a strong-buy rating. The company traded as high as $9.94 and last traded at $9.3350, with a volume of 121262 shares changing hands. The stock had previously closed at $8.94.

DSGN has been the topic of several other reports. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.00.

Institutional Trading of Design Therapeutics

A number of large investors have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new position in Design Therapeutics in the third quarter worth approximately $3,582,000. Millennium Management LLC acquired a new stake in shares of Design Therapeutics in the 3rd quarter valued at $518,000. Kennedy Capital Management LLC lifted its position in shares of Design Therapeutics by 95.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company’s stock worth $221,000 after purchasing an additional 14,401 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Finally, DLD Asset Management LP acquired a new position in shares of Design Therapeutics during the third quarter worth $376,000. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Stock Up 0.5%

The stock has a market cap of $559.39 million, a PE ratio of -8.25 and a beta of 1.63. The firm has a fifty day moving average of $7.21 and a 200 day moving average of $5.48.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, equities research analysts forecast that Design Therapeutics, Inc. will post -0.91 EPS for the current fiscal year.

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.