Design Therapeutics (NASDAQ:DSGN) Upgraded at Wall Street Zen

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

A number of other equities research analysts have also weighed in on DSGN. Craig Hallum began coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $13.00 in a research note on Thursday, November 20th. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Oppenheimer began coverage on Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Price Performance

NASDAQ:DSGN opened at $10.07 on Friday. The business has a 50 day moving average of $9.72 and a 200 day moving average of $7.64. The company has a market capitalization of $573.59 million, a price-to-earnings ratio of -8.46 and a beta of 1.63. Design Therapeutics has a 1-year low of $2.60 and a 1-year high of $10.97.

Institutional Trading of Design Therapeutics

Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Design Therapeutics during the second quarter valued at approximately $43,000. Jane Street Group LLC lifted its stake in Design Therapeutics by 71.5% in the second quarter. Jane Street Group LLC now owns 31,079 shares of the company’s stock worth $105,000 after acquiring an additional 12,954 shares during the period. Invesco Ltd. boosted its holdings in Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after acquiring an additional 3,033 shares in the last quarter. Strs Ohio purchased a new position in Design Therapeutics during the 1st quarter valued at $87,000. Finally, Baader Bank Aktiengesellschaft bought a new position in Design Therapeutics in the 4th quarter worth $188,000. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

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.