Design Therapeutics (NASDAQ:DSGN) Sees Unusually-High Trading Volume – Should You Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares saw an uptick in trading volume on Monday . 563,030 shares were traded during mid-day trading, an increase of 131% from the previous session’s volume of 243,562 shares.The stock last traded at $10.6540 and had previously closed at $10.12.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price on the stock. Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Craig Hallum assumed coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Royal Bank Of Canada lifted their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Design Therapeutics Stock Performance

The company has a market cap of $643.86 million, a PE ratio of -8.56 and a beta of 1.63. The company has a 50 day simple moving average of $10.11 and a two-hundred day simple moving average of $8.44.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11. As a group, analysts expect that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC bought a new position in shares of Design Therapeutics during the fourth quarter valued at $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Design Therapeutics in the 2nd quarter worth about $43,000. Russell Investments Group Ltd. increased its position in shares of Design Therapeutics by 69.6% during the 3rd 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. Invesco Ltd. lifted its holdings in Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares during the last quarter. Finally, Velan Capital Investment Management LP boosted its position in Design Therapeutics by 42.9% in the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after buying an additional 6,000 shares in the last quarter. 56.64% of the stock is owned by institutional investors.

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. 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.