Design Therapeutics (NASDAQ:DSGN) Sees Strong Trading Volume – Here’s Why

Design Therapeutics, Inc. (NASDAQ:DSGN) saw strong trading volume on Thursday . 251,287 shares traded hands during mid-day trading, a decline of 5% from the previous session’s volume of 263,364 shares.The stock last traded at $10.0750 and had previously closed at $10.03.

Analysts Set New Price Targets

A number of brokerages have issued reports on DSGN. Craig Hallum began coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target on the stock. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Stock Performance

The company has a 50 day moving average price of $9.75 and a 200 day moving average price of $7.70. The firm has a market cap of $586.39 million, a price-to-earnings ratio of -8.66 and a beta of 1.63.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vivo Capital LLC acquired a new stake in shares of Design Therapeutics during the fourth quarter worth about $15,129,000. RA Capital Management L.P. grew its holdings 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 purchasing an additional 985,682 shares in the last quarter. Woodline Partners LP purchased a new stake in Design Therapeutics during the 1st quarter worth approximately $2,492,000. Baker BROS. Advisors LP lifted its holdings in Design Therapeutics by 30.4% during the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after buying an additional 520,217 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Design Therapeutics during the 4th quarter worth approximately $2,115,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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.