Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of “Moderate Buy” from Brokerages

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.00.

Several equities research analysts have commented on DSGN shares. Oppenheimer assumed coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price target for the company. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Craig Hallum started coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $6.00 to $13.00 in a report on Thursday, November 20th.

Design Therapeutics Stock Performance

DSGN opened at $10.35 on Tuesday. The company has a market capitalization of $589.54 million, a PE ratio of -8.70 and a beta of 1.63. The stock’s fifty day moving average is $9.81 and its 200-day moving average is $7.85. Design Therapeutics has a one year low of $2.60 and a one year high of $10.97.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of DSGN. Baker BROS. Advisors LP boosted its holdings 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 worth $20,946,000 after buying an additional 520,217 shares during the period. Vivo Capital LLC acquired a new position in Design Therapeutics in the 4th quarter worth approximately $15,129,000. RA Capital Management L.P. boosted its stake in Design Therapeutics by 207.2% in the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock worth $13,708,000 after purchasing an additional 985,682 shares during the period. Geode Capital Management LLC grew its position in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock worth $2,676,000 after purchasing an additional 18,511 shares in the last quarter. Finally, State Street Corp raised its stake in Design Therapeutics by 2.1% during the 4th quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after purchasing an additional 13,239 shares during the period. 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.