Design Therapeutics (NASDAQ:DSGN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Design Therapeutics (NASDAQ:DSGN) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other analysts have also weighed in on DSGN. Craig Hallum assumed coverage on shares of Design Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target for the company. Oppenheimer started coverage on Design Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price on the stock. Leerink Partnrs raised Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $9.28 on Friday. The stock has a market cap of $528.59 million, a price-to-earnings ratio of -7.80 and a beta of 1.63. Design Therapeutics has a 1 year low of $2.60 and a 1 year high of $10.31. The business has a fifty day moving average of $9.04 and a 200-day moving average of $6.70.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, equities research analysts predict that Design Therapeutics will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Design Therapeutics

Large investors have recently made changes to their positions in the company. Woodline Partners LP purchased a new stake in shares of Design Therapeutics in the 1st quarter valued at approximately $2,492,000. Jane Street Group LLC purchased a new stake in shares of Design Therapeutics in the first quarter valued at $70,000. Strs Ohio purchased a new stake in shares of Design Therapeutics in the first quarter valued at $87,000. Los Angeles Capital Management LLC purchased a new position in shares of Design Therapeutics during the second quarter valued at $43,000. Finally, Geode Capital Management LLC grew its holdings in shares of Design Therapeutics by 2.4% during the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after buying an additional 18,511 shares in the last quarter. Institutional investors and hedge funds 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. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.