Design Therapeutics (NASDAQ:DSGN) Rating Increased to Overweight at Piper Sandler

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

A number of other research analysts have also recently commented on DSGN. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 price target 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.60.

Design Therapeutics Price Performance

DSGN stock opened at $4.69 on Tuesday. Design Therapeutics has a twelve month low of $1.94 and a twelve month high of $8.47. The business’s 50-day moving average price is $3.44 and its 200-day moving average price is $2.76. The stock has a market cap of $264.94 million, a P/E ratio of -3.91 and a beta of 1.83.

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, topping analysts’ consensus estimates of ($0.32) by $0.11. On average, equities research analysts expect that Design Therapeutics will post -1.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Design Therapeutics

Several hedge funds have recently made changes to their positions in DSGN. Pale Fire Capital SE bought a new stake in Design Therapeutics during the 4th quarter valued at $28,000. Nisa Investment Advisors LLC grew its position in Design Therapeutics by 38,433.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock valued at $31,000 after buying an additional 11,530 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Design Therapeutics by 317.6% in 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 during the period. Simplicity Wealth LLC bought a new position in shares of Design Therapeutics in the first quarter valued at approximately $46,000. Finally, Bleakley Financial Group LLC bought a new stake in Design Therapeutics during the first quarter worth approximately $46,000. Institutional investors own 56.64% of the company’s stock.

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.