Design Therapeutics (NASDAQ:DSGN) Lifted to “Overweight” at Piper Sandler

Design Therapeutics (NASDAQ:DSGN) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat reports. The firm presently has a $12.00 price objective on the stock, up from their previous price objective of $6.00. Piper Sandler’s target price points to a potential upside of 155.86% from the company’s current price.

Several other research firms have also recently weighed in on DSGN. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Design Therapeutics in a research note on Wednesday, March 20th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Design Therapeutics currently has an average rating of “Hold” and an average target price of $6.60.

Design Therapeutics Price Performance

DSGN stock opened at $4.69 on Tuesday. The business’s 50-day moving average is $3.44 and its two-hundred day moving average is $2.76. The firm has a market capitalization of $264.94 million, a P/E ratio of -3.91 and a beta of 1.83. Design Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.47.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results 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. On average, analysts expect that Design Therapeutics will post -1.26 EPS for the current year.

Insider Buying and Selling at Design Therapeutics

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

Hedge Funds Weigh In On Design Therapeutics

A number of large investors have recently modified their holdings of DSGN. Bleakley Financial Group LLC purchased a new stake in shares of Design Therapeutics in the first quarter valued at approximately $46,000. GSA Capital Partners LLP boosted its position in shares of Design Therapeutics by 199.3% during the 1st quarter. GSA Capital Partners LLP now owns 216,347 shares of the company’s stock worth $872,000 after purchasing an additional 144,055 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Design Therapeutics during the 1st quarter worth $57,000. Simplicity Wealth LLC purchased a new position in shares of Design Therapeutics in the 1st quarter valued at about $46,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Design Therapeutics by 41.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 347,794 shares of the company’s stock valued at $1,402,000 after purchasing an additional 102,567 shares in the last quarter. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.