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

Piper Sandler upgraded shares of Design Therapeutics (NASDAQ:DSGN) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $12.00 price objective on the stock, up from their previous price objective of $6.00.

DSGN has been the subject of a number of other research reports. Wedbush reaffirmed a neutral rating and set a $5.00 price objective on shares of Design Therapeutics in a research report on Wednesday, March 20th. Royal Bank of Canada reaffirmed 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $6.60.

Design Therapeutics Stock Performance

Shares of Design Therapeutics stock opened at $4.69 on Tuesday. The firm has a market cap of $264.94 million, a PE ratio of -3.91 and a beta of 1.83. The firm’s 50-day simple moving average is $3.41 and its 200-day simple moving average is $2.74. Design Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.47.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. On average, equities analysts predict that Design Therapeutics will post -1.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John P. Schmid bought 17,809 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $3.74 per share, for a total transaction of $66,605.66. Following the transaction, the director now owns 26,965 shares in the company, valued at $100,849.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John P. Schmid bought 9,156 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was purchased 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 this link. Also, Director John P. Schmid acquired 17,809 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was bought 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 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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pale Fire Capital SE bought a new position in shares of Design Therapeutics in the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC boosted its holdings in shares of Design Therapeutics by 38,433.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock valued at $31,000 after acquiring an additional 11,530 shares in the last quarter. 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 valued at $32,000 after acquiring an additional 9,126 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Design Therapeutics in the first quarter valued at approximately $46,000. Finally, SG Americas Securities LLC bought a new position in shares of Design Therapeutics in the third quarter valued at approximately $47,000. 56.64% of the stock is currently owned by 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.