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

Design Therapeutics, Inc. (NASDAQ:DSGN) shares saw strong trading volume on Monday . 1,054,608 shares changed hands during mid-day trading, an increase of 321% from the previous session’s volume of 250,747 shares.The stock last traded at $10.24 and had previously closed at $10.18.

Analyst Upgrades and Downgrades

DSGN has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Wall Street Zen cut Design Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday. Finally, Oppenheimer initiated coverage on shares of Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Price Performance

The company has a 50-day moving average price of $9.28 and a two-hundred day moving average price of $6.94. The company has a market cap of $595.80 million, a PE ratio of -8.79 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, equities research analysts anticipate that Design Therapeutics, Inc. will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Design Therapeutics in the second quarter valued at $43,000. Invesco Ltd. lifted its holdings in Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after buying an additional 3,033 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares during the last quarter. Velan Capital Investment Management LP grew its stake in shares of Design Therapeutics by 42.9% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Design Therapeutics during the first quarter worth about $70,000. 56.64% of the stock is owned by institutional investors and hedge funds.

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.