Design Therapeutics, Inc. (NASDAQ:DSGN) Receives $5.50 Consensus Target Price from Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have covered the stock in the last year is $5.50.

A number of analysts recently commented on DSGN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price target on shares of Design Therapeutics in a research note on Wednesday, March 20th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Design Therapeutics in a research note on Wednesday, March 20th.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $3.69 on Friday. The firm has a market cap of $208.45 million, a PE ratio of -3.07 and a beta of 1.82. Design Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $8.47. The business has a 50 day moving average price of $3.08 and a 200-day moving average price of $2.60.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. Research analysts predict that Design Therapeutics will post -1.25 EPS for the current year.

Insiders Place Their Bets

In related news, Director John P. Schmid purchased 17,809 shares of Design Therapeutics stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $3.74 per share, for a total transaction of $66,605.66. Following the completion of the acquisition, the director now directly owns 26,965 shares of the company’s stock, valued at $100,849.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Design Therapeutics news, Director John P. Schmid acquired 9,156 shares of Design Therapeutics stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the acquisition, the director now owns 9,156 shares of the company’s stock, valued at $33,144.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Schmid acquired 17,809 shares of Design Therapeutics stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $3.74 per share, with a total value of $66,605.66. Following the completion of the acquisition, the director now directly owns 26,965 shares in the company, valued at approximately $100,849.10. The disclosure for this purchase can be found here. 25.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pale Fire Capital SE purchased a new position in Design Therapeutics in the 4th quarter worth approximately $28,000. Nisa Investment Advisors LLC raised its holdings in shares of Design Therapeutics by 38,433.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock worth $31,000 after acquiring an additional 11,530 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Design Therapeutics by 317.6% during the 4th quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock worth $32,000 after acquiring an additional 9,126 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Design Therapeutics by 152.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,201 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Design Therapeutics by 28.0% during the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock worth $45,000 after acquiring an additional 711 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors.

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.