Design Therapeutics (NASDAQ:DSGN) Rating Lowered to Sell at Wall Street Zen

Design Therapeutics (NASDAQ:DSGN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

DSGN has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. Leerink Partnrs upgraded Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Craig Hallum started coverage on Design Therapeutics in a report on Wednesday. They set a “buy” rating and a $15.00 target price for the company. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday. Finally, Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Design Therapeutics Stock Down 0.5%

Shares of Design Therapeutics stock opened at $9.77 on Friday. The company has a 50 day moving average price of $7.27 and a 200 day moving average price of $5.55. The firm has a market capitalization of $556.50 million, a P/E ratio of -8.21 and a beta of 1.63. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $10.31.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. As a group, research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Design Therapeutics in the first quarter valued at $568,000. American Century Companies Inc. grew its position in shares of Design Therapeutics by 13.5% during the 1st quarter. American Century Companies Inc. now owns 44,415 shares of the company’s stock valued at $171,000 after acquiring an additional 5,300 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Design Therapeutics during the 1st quarter valued at about $546,000. Driehaus Capital Management LLC increased its stake in shares of Design Therapeutics by 17.7% in the 1st quarter. Driehaus Capital Management LLC now owns 913,399 shares of the company’s stock valued at $3,526,000 after purchasing an additional 137,317 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in Design Therapeutics in the 1st quarter worth about $54,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.