Wall Street Zen Downgrades Design Therapeutics (NASDAQ:DSGN) to Sell

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

DSGN has been the subject of a number of other research reports. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Leerink Partnrs upgraded Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Craig Hallum started coverage on Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus 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 business has a fifty day moving average price of $9.04 and a 200 day moving average price of $6.72. The company has a market cap of $528.59 million, a P/E ratio of -7.80 and a beta of 1.63. Design Therapeutics has a one year low of $2.60 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, sell-side analysts predict that Design Therapeutics will post -0.91 EPS for the current fiscal year.

Institutional Trading of Design Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of DSGN. Bank of America Corp DE lifted its position in Design Therapeutics by 11.1% in the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after buying an additional 2,459 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Design Therapeutics by 69.6% during the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the last quarter. Invesco Ltd. raised its stake in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Design Therapeutics by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company’s stock worth $175,000 after acquiring an additional 4,896 shares during the last quarter. Finally, Velan Capital Investment Management LP boosted its position in shares of Design Therapeutics by 42.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after purchasing an additional 6,000 shares during the period. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

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.