Design Therapeutics (NASDAQ:DSGN) Shares Down 8% – Here’s What Happened

Design Therapeutics, Inc. (NASDAQ:DSGN)’s stock price was down 8% on Monday . The stock traded as low as $14.02 and last traded at $13.9750. 213,731 shares changed hands during trading, a decline of 64% from the average session volume of 598,205 shares. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DSGN. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price target on shares of Design Therapeutics in a report on Wednesday, April 29th. Oppenheimer boosted their price objective on Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Cantor Fitzgerald began coverage on Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating for the company. Finally, Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Design Therapeutics Stock Performance

The firm has a market capitalization of $853.83 million, a price-to-earnings ratio of -11.39 and a beta of 1.58. The stock’s fifty day moving average is $12.75 and its two-hundred day moving average is $11.44.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. Sell-side analysts anticipate that Design Therapeutics, Inc. will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

A number of hedge funds have recently bought and sold shares of DSGN. Vivo Capital LLC bought a new stake in shares of Design Therapeutics in the fourth quarter worth $15,129,000. RA Capital Management L.P. boosted its stake in Design Therapeutics by 207.2% during the 4th quarter. RA Capital Management L.P. now owns 1,461,381 shares of the company’s stock valued at $13,708,000 after acquiring an additional 985,682 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Design Therapeutics in the 1st quarter valued at about $2,492,000. Baker BROS. Advisors LP raised its stake in shares of 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 purchasing an additional 520,217 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Design Therapeutics by 1,995.8% during the fourth quarter. Invesco Ltd. now owns 305,757 shares of the company’s stock worth $2,868,000 after purchasing an additional 291,168 shares during 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.