Design Therapeutics (NASDAQ:DSGN) Shares Down 6.5% – Time to Sell?

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) fell 6.5% on Thursday . The company traded as low as $9.29 and last traded at $9.1650. 15,529 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 220,607 shares. The stock had previously closed at $9.80.

Analysts Set New Price Targets

A number of research analysts have issued reports on DSGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Leerink Partnrs upgraded shares of 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 objective on shares of Design Therapeutics and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Trading Down 5.9%

The firm has a market cap of $525.46 million, a price-to-earnings ratio of -7.75 and a beta of 1.63. The stock has a 50-day moving average of $8.96 and a two-hundred day moving average of $6.62.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. Sell-side analysts expect that Design Therapeutics, Inc. will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new stake in shares of Design Therapeutics in the first quarter worth $2,492,000. RA Capital Management L.P. purchased a new stake in Design Therapeutics in the 3rd quarter worth about $3,582,000. Bridgeway Capital Management LLC boosted its position in Design Therapeutics by 65.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 188,200 shares of the company’s stock worth $634,000 after acquiring an additional 74,400 shares during the period. Millennium Management LLC purchased a new position in Design Therapeutics during the 3rd quarter valued at about $518,000. Finally, DLD Asset Management LP purchased a new position in Design Therapeutics during the 3rd quarter valued at about $376,000. Institutional investors and hedge funds own 56.64% of the company’s stock.

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.