Design Therapeutics, Inc. (NASDAQ:DSGN – Get Free Report) has received an average rating of “Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.86.
A number of equities analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of Design Therapeutics in a research report on Friday. They set an “overweight” rating and a $26.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th.
View Our Latest Stock Report on DSGN
Design Therapeutics Stock Performance
Design Therapeutics (NASDAQ:DSGN – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. As a group, analysts forecast that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Design Therapeutics
Several hedge funds have recently made changes to their positions in DSGN. State of Wyoming purchased a new position in Design Therapeutics during the 2nd quarter valued at about $37,000. Legal & General Group Plc purchased a new stake in Design Therapeutics in the 2nd quarter worth approximately $43,000. ADAR1 Capital Management LLC purchased a new stake in Design Therapeutics in the 1st quarter worth approximately $106,000. AXQ Capital LP bought a new position in Design Therapeutics in the 4th quarter valued at $110,000. Finally, Royal Bank of Canada boosted its holdings in 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 purchasing an additional 10,728 shares during the period. 56.64% of the stock is currently owned by hedge funds and other institutional investors.
About Design Therapeutics
Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.
Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.
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