Design Therapeutics (NASDAQ:DSGN) Shares Down 6.2% – Time to Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s stock price was down 6.2% during mid-day trading on Tuesday. The company traded as low as $10.47 and last traded at $10.2360. 52,014 shares changed hands during trading, a decline of 91% from the average daily volume of 595,226 shares. The stock had previously closed at $10.91.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DSGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th. Wells Fargo & Company started coverage on Design Therapeutics in a report on Friday, October 2nd. They set an “overweight” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Design Therapeutics Stock Down 8.3%

The firm has a market capitalization of $625.80 million, a P/E ratio of -8.47 and a beta of 1.68. The firm has a 50 day moving average of $13.80 and a 200-day moving average of $12.99.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. As a group, research analysts expect that Design Therapeutics, Inc. will post -1.41 EPS for the current year.

Institutional Trading of Design Therapeutics

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Design Therapeutics in the second quarter valued at about $38,491,000. Trails Edge Capital Partners LP acquired a new stake in Design Therapeutics during the second quarter worth about $28,958,550. Frazier Life Sciences Management L.P. acquired a new stake in Design Therapeutics during the second quarter worth about $26,189,000. Baker BROS. Advisors LP increased its holdings in Design Therapeutics by 30.4% in the 4th quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after buying an additional 520,217 shares during the period. Finally, Almitas Capital LLC bought a new position in Design Therapeutics in the 2nd quarter valued at about $14,859,000. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.