Design Therapeutics Inc. [NASDAQ: DSGN] surged by $0.15 during the normal trading session on Friday and reaching a high of $22.02 during the day while it closed the day at $21.57. The company report on August 8, 2022 that Design Therapeutics Highlights Upcoming Milestones and Reports Second Quarter 2022 Financial Results.
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Initial Data from Friedreich Ataxia Phase 1 Trial of DT-216 Expected in the Fourth Quarter of 2022.
Strong Financial Position with $359.4 Million in Cash and Securities to Support Multi-Year Operating Runway.
Design Therapeutics Inc. stock has also gained 6.41% of its value over the past 7 days. However, DSGN stock has inclined by 43.70% in the 3 months of the year. Over the past six months meanwhile, it has gained 40.80% and gained 0.75% year-on date.
The market cap for DSGN stock reached $1.30 billion, with 55.67 million shares outstanding and 35.26 million shares in the current float. Compared to the average trading volume of 192.81K shares, DSGN reached a trading volume of 311212 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Design Therapeutics Inc. [DSGN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DSGN shares is $26.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DSGN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Design Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 10, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on May 02, 2022, representing the official price target for Design Therapeutics Inc. stock. Previously, the target price had yet another raise to $10, while Goldman analysts kept a Sell rating on DSGN stock.
The Average True Range (ATR) for Design Therapeutics Inc. is set at 1.63 The Price to Book ratio for the last quarter was 3.36, with the Price to Cash per share for the same quarter was set at 5.96.
DSGN stock trade performance evaluation
Design Therapeutics Inc. [DSGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.41. With this latest performance, DSGN shares gained by 3.21% in over the last four-week period, additionally plugging by 40.80% over the last 6 months – not to mention a rise of 26.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DSGN stock in for the last two-week period is set at 53.76, with the RSI for the last a single of trading hit 53.32, and the three-weeks RSI is set at 55.00 for Design Therapeutics Inc. [DSGN]. The present Moving Average for the last 50 days of trading for this stock 19.45, while it was recorded at 20.63 for the last single week of trading, and 16.27 for the last 200 days.
Design Therapeutics Inc. [DSGN]: An insightful look at the core fundamentals
Return on Equity for this stock declined to -17.08, with Return on Assets sitting at -16.64.
Design Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 49.00 and a Current Ratio set at 49.00.
Design Therapeutics Inc. [DSGN]: Insider Ownership positions
There are presently around $839 million, or 69.90% of DSGN stock, in the hands of institutional investors. The top three institutional holders of DSGN stocks are: SR ONE CAPITAL MANAGEMENT, LP with ownership of 5,626,476, which is approximately 0% of the company’s market cap and around 36.84% of the total institutional ownership; CORMORANT ASSET MANAGEMENT, LP, holding 5,500,000 shares of the stock with an approximate value of $118.64 million in DSGN stocks shares; and BLACKROCK INC., currently with $76.36 million in DSGN stock with ownership of nearly 12.35% of the company’s market capitalization.
Positions in Design Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 46 institutional holders increased their position in Design Therapeutics Inc. [NASDAQ:DSGN] by around 2,113,722 shares. Additionally, 22 investors decreased positions by around 1,206,089 shares, while 14 investors held positions by with 35,574,519 shares. The mentioned changes placed institutional holdings at 38,894,330 shares, according to the latest SEC report filing. DSGN stock had 20 new institutional investments in for a total of 226,855 shares, while 6 institutional investors sold positions of 119,153 shares during the same period.