Analysts Set Design Therapeutics, Inc. (NASDAQ:DSGN) PT at $6.60

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.60.

Separately, Piper Sandler upgraded Design Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $6.00 to $12.00 in a report on Tuesday, May 7th.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGN. Pale Fire Capital SE bought a new position in Design Therapeutics during the fourth quarter worth about $28,000. Nisa Investment Advisors LLC boosted its holdings in Design Therapeutics by 38,433.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock worth $31,000 after buying an additional 11,530 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Design Therapeutics by 317.6% during the fourth quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock worth $32,000 after buying an additional 9,126 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Design Therapeutics during the first quarter worth about $45,000. Finally, Simplicity Wealth LLC bought a new position in Design Therapeutics during the first quarter worth about $46,000. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Price Performance

Design Therapeutics stock opened at $5.25 on Tuesday. The stock has a fifty day moving average price of $3.90 and a two-hundred day moving average price of $3.43. The firm has a market capitalization of $296.57 million, a P/E ratio of -5.00 and a beta of 1.82. Design Therapeutics has a 52-week low of $1.94 and a 52-week high of $8.31.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. On average, equities research analysts predict that Design Therapeutics will post -1.02 EPS for the current fiscal year.

About Design Therapeutics

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.