Design Therapeutics (NASDAQ:DSGN) Sees Unusually-High Trading Volume – What’s Next?

Design Therapeutics, Inc. (NASDAQ:DSGN) saw unusually-strong trading volume on Thursday . Approximately 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DSGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Oppenheimer began coverage on Design Therapeutics in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Price Performance

The business has a 50-day moving average of $9.78 and a 200 day moving average of $7.76. The company has a market capitalization of $575.87 million, a PE ratio of -8.50 and a beta of 1.63.

Institutional Trading of Design Therapeutics

A number of large investors have recently made changes to their positions in the business. Invesco Ltd. grew its position in Design Therapeutics by 1,995.8% in the fourth quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock worth $2,868,000 after acquiring an additional 291,168 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Design Therapeutics during the 4th quarter valued at approximately $253,000. XTX Topco Ltd lifted its position in Design Therapeutics by 197.3% in the fourth quarter. XTX Topco Ltd now owns 35,284 shares of the company’s stock worth $331,000 after buying an additional 23,416 shares during the last quarter. Millennium Management LLC boosted its stake in Design Therapeutics by 162.8% during the fourth quarter. Millennium Management LLC now owns 180,866 shares of the company’s stock worth $1,697,000 after buying an additional 112,043 shares during the period. Finally, Elmind Capital LP purchased a new position in Design Therapeutics during the fourth quarter worth $1,950,000. 56.64% of the stock is currently 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.