Design Therapeutics, Inc. (NASDAQ:DSGN – Get Free Report) shares fell 4.7% on Monday . The stock traded as low as $10.18 and last traded at $10.1540. 218,671 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 516,561 shares. The stock had previously closed at $10.65.
Wall Street Analyst Weigh In
A number of analysts recently commented on DSGN shares. Cantor Fitzgerald began coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They set an “overweight” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a research note on Wednesday, April 29th. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $15.00 target price on the stock. Royal Bank Of Canada increased their target price on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Oppenheimer raised their price target on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Design Therapeutics has an average rating of “Moderate Buy” and an average price target of $16.50.
View Our Latest Report on DSGN
Design Therapeutics Price Performance
Design Therapeutics (NASDAQ:DSGN – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, analysts expect that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of Design Therapeutics in the fourth quarter worth $26,000. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after buying an additional 2,618 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Design Therapeutics in the 4th quarter worth about $67,000. ADAR1 Capital Management LLC purchased a new stake in shares of Design Therapeutics in the 1st quarter valued at about $106,000. Finally, Royal Bank of Canada raised its holdings in shares of Design Therapeutics by 1,681.5% in the 1st quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock valued at $121,000 after acquiring an additional 10,728 shares in the last quarter. Institutional investors own 56.64% of the company’s stock.
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.
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