Market Analysts see Design Therapeutics Inc [DSGN] falling to $6. Time to buy?

Design Therapeutics Inc [NASDAQ: DSGN] traded at a high on Thursday, posting a 3.07 gain after which it closed the day’ session at $4.03. The company report on March 19, 2024 at 4:01 PM that Design Therapeutics Outlines Progress Across GeneTAC™ Platform and Announces Fourth Quarter and Full Year 2023 Financial Results.

New Drug Product for Friedreich Ataxia (FA) DT-216P2 with Favorable Nonclinical Pharmacokinetic and Injection Site Safety Profile; Complete GLP Studies by Year-end 2024 to Start Patient Trials in 2025.

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IND Cleared for DT-168 for Treatment of Fuchs Endothelial Corneal Dystrophy (FECD) with Phase 1 Development to Start in 2024; Observational Study Underway to Confirm Patient Characteristics and Evaluate Potential Endpoints.

The results of the trading session contributed to over 220935 shares changing hands. Over the past one week, the price volatility of Design Therapeutics Inc stands at 12.49% while the volatility over the past one month is 8.25%.

The market cap for DSGN stock reached $227.65 million, with 56.47 million shares outstanding and 32.84 million shares in the current float. Compared to the average trading volume of 259.38K shares, DSGN reached a trading volume of 220935 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $4.75 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 3.00. 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.

Piper Sandler have made an estimate for Design Therapeutics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 14, 2023. While these analysts kept the previous recommendation, Wedbush raised their target price from $19 to $6. The new note on the price target was released on August 15, 2023, representing the official price target for Design Therapeutics Inc stock. Previously, the target price had yet another raise to $6, while SVB Securities analysts kept a Market Perform rating on DSGN stock. On August 15, 2023, analysts decreased their price target for DSGN shares from 23 to 7.

The Average True Range (ATR) for Design Therapeutics Inc is set at 0.25 The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 4.99.

How has DSGN stock performed recently?

Design Therapeutics Inc [DSGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.62. With this latest performance, DSGN shares gained by 41.40% in over the last four-week period, additionally plugging by 63.16% over the last 6 months – not to mention a drop 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 74.43, with the RSI for the last a single of trading hit 77.70, and the three-weeks RSI is set at 71.72 for Design Therapeutics Inc [DSGN]. The present Moving Average for the last 50 days of trading for this stock 2.71, while it was recorded at 3.81 for the last single week of trading, and 3.38 for the last 200 days.

Design Therapeutics Inc [DSGN]: Deeper insight into the fundamentals

Design Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 29.58 and a Current Ratio set at 29.58.

Earnings analysis for Design Therapeutics Inc [DSGN]

With the latest financial reports released by the company, Design Therapeutics Inc posted -0.35/share EPS, while the average EPS was predicted by analysts to be reported at -0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DSGN.

Insider trade positions for Design Therapeutics Inc [DSGN]

The top three institutional holders of DSGN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DSGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DSGN stock with ownership which is approximately 5.8325%.