Design Therapeutics (NASDAQ:DSGN) Stock Price Down 5.4% – Here’s Why

Design Therapeutics, Inc. (NASDAQ:DSGN) was down 5.4% during trading on Monday . The company traded as low as $14.90 and last traded at $14.79. Approximately 306,622 shares changed hands during trading, a decline of 48% from the average daily volume of 585,822 shares. The stock had previously closed at $15.64.

Analyst Ratings Changes

A number of analysts recently issued reports on DSGN shares. Piper Sandler reissued an “overweight” rating and set a $20.00 price target on shares of Design Therapeutics in a report on Wednesday, April 29th. Royal Bank Of Canada upped their price target on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Cantor Fitzgerald began coverage on Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating on the stock. Oppenheimer lifted their price target on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Price Performance

The stock has a market capitalization of $925.66 million, a price-to-earnings ratio of -12.35 and a beta of 1.58. The stock has a 50 day moving average price of $12.65 and a 200-day moving average price of $11.26.

Design Therapeutics (NASDAQ:DSGN) last announced 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. As a group, research analysts forecast that Design Therapeutics, Inc. will post -1.36 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Hedge funds have recently bought and sold shares of the business. AlphaCentric Advisors LLC increased its holdings in shares of Design Therapeutics by 4.8% in the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock valued at $226,000 after purchasing an additional 969 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after acquiring an additional 2,459 shares during the period. Strs Ohio raised its holdings in shares of Design Therapeutics by 11.5% during the 4th quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $236,000 after acquiring an additional 2,600 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Design Therapeutics by 69.6% during the 3rd 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. Finally, Torren Management LLC acquired a new position in shares of Design Therapeutics during the 4th quarter valued at about $26,000. 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.