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

Design Therapeutics, Inc. (NASDAQ:DSGN) has been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat Ratings 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 price objective among brokers that have issued a report on the stock in the last year is $6.60.

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

Hedge Funds Weigh In On Design Therapeutics

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Design Therapeutics by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 118,110 shares of the company’s stock worth $396,000 after acquiring an additional 2,868 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Design Therapeutics by 30.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,503 shares of the company’s stock worth $57,000 after acquiring an additional 4,983 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Design Therapeutics by 317.6% in the fourth quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock worth $32,000 after acquiring an additional 9,126 shares during the period. Pale Fire Capital SE bought a new position in shares of Design Therapeutics in the fourth quarter worth $28,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Design Therapeutics in the first quarter worth $45,000. 56.64% of the stock is owned by institutional investors.

Design Therapeutics Price Performance

NASDAQ:DSGN opened at $5.25 on Tuesday. The business has a fifty day simple moving average of $3.90 and a two-hundred day simple moving average of $3.43. Design Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.31. The company has a market capitalization of $296.57 million, a P/E ratio of -5.00 and a beta of 1.82.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Wednesday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. As a group, analysts anticipate that Design Therapeutics will post -1.02 earnings per share for the current 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.