Design Therapeutics (NASDAQ:DSGN) Stock Price Down 8% – What’s Next?

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DSGN. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Cantor Fitzgerald assumed coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an “overweight” rating for the company. Oppenheimer upped their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Jefferies Financial Group started coverage on shares of Design Therapeutics in a research report on Monday, March 16th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Trading Down 9.4%

The stock has a market capitalization of $859.78 million, a price-to-earnings ratio of -11.45 and a beta of 1.58. The stock’s 50 day moving average is $12.74 and its two-hundred day moving average is $11.38.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, research analysts anticipate that Design Therapeutics, Inc. will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP bought a new stake in Design Therapeutics in the 1st quarter valued at approximately $2,492,000. Jane Street Group LLC bought a new position in shares of Design Therapeutics during the 1st quarter worth approximately $70,000. Strs Ohio acquired a new stake in shares of Design Therapeutics in the first quarter valued at approximately $87,000. Geode Capital Management LLC raised its holdings in shares of Design Therapeutics by 2.4% in the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after purchasing an additional 18,511 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Design Therapeutics by 26.8% in the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in 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.