Design Therapeutics (NASDAQ:DSGN) Shares Gap Up – Time to Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) gapped up before the market opened on Monday . The stock had previously closed at $11.78, but opened at $12.86. Design Therapeutics shares last traded at $12.27, with a volume of 30,041 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on DSGN. Cantor Fitzgerald began coverage on Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating on the stock. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Oppenheimer upped their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Stock Down 0.1%

The company has a market capitalization of $741.40 million, a P/E ratio of -9.89 and a beta of 1.58. The business’s 50-day moving average is $12.39 and its two-hundred day moving average is $11.63.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. Analysts predict that Design Therapeutics, Inc. will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors have recently modified their holdings of DSGN. Baker BROS. Advisors LP lifted its holdings in Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after acquiring an additional 520,217 shares during the period. Vivo Capital LLC bought a new position in Design Therapeutics in the 4th quarter valued at $15,129,000. RA Capital Management L.P. grew 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 valued at $13,708,000 after purchasing an additional 985,682 shares during the period. Geode Capital Management LLC grew its stake in Design Therapeutics by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after purchasing an additional 18,511 shares during the period. Finally, State Street Corp increased its position in shares of 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 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.