Design Therapeutics (NASDAQ:DSGN) Trading Up 9% – What’s Next?

by · The Cerbat Gem

Design Therapeutics, Inc. (NASDAQ:DSGN – Get Free Report) shares rose 9% on Tuesday . The company traded as high as $9.29 and last traded at $9.42. Approximately 274,382 shares were traded during trading, an increase of 58% from the average daily volume of 173,552 shares. The stock had previously closed at $8.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DSGN. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Design Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Check Out Our Latest Research Report on Design Therapeutics

Design Therapeutics Price Performance

The company has a market cap of $535.99 million, a price-to-earnings ratio of -7.91 and a beta of 1.67. The firm has a fifty day simple moving average of $6.69 and a 200 day simple moving average of $5.17.

Design Therapeutics (NASDAQ:DSGN – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Analysts expect that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new position in Design Therapeutics in the 3rd quarter worth approximately $3,582,000. Millennium Management LLC acquired a new stake in shares of Design Therapeutics in the third quarter worth $518,000. Kennedy Capital Management LLC increased its position in Design Therapeutics by 95.9% during the third quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company’s stock worth $221,000 after acquiring an additional 14,401 shares during the period. Russell Investments Group Ltd. raised its stake in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in Design Therapeutics during the 3rd quarter valued at $376,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

About Design Therapeutics

(Get Free Report)

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.

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