Design Therapeutics (NASDAQ:DSGN) Stock Rating Upgraded by Wells Fargo & Company

Design Therapeutics (NASDAQ:DSGN) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a report issued on Friday, Zacks reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Design Therapeutics presently has a consensus rating of “Buy” and an average price target of $17.86.

Design Therapeutics Price Performance

Shares of NASDAQ:DSGN opened at $12.34 on Friday. Design Therapeutics has a fifty-two week low of $5.28 and a fifty-two week high of $17.25. The business has a 50-day moving average of $13.86 and a two-hundred day moving average of $12.92. The stock has a market capitalization of $772.24 million, a P/E ratio of -10.46 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. As a group, research analysts expect that Design Therapeutics will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DSGN. BlackRock Inc. bought a new stake in Design Therapeutics in the second quarter valued at $38,491,000. Baker BROS. Advisors LP lifted its holdings in shares of Design Therapeutics by 30.4% during the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after acquiring an additional 520,217 shares during the period. Trails Edge Capital Partners LP acquired a new stake in shares of Design Therapeutics in the 2nd quarter valued at $28,958,550. Frazier Life Sciences Management L.P. acquired a new stake in shares of Design Therapeutics in the 2nd quarter valued at $26,189,000. Finally, Almitas Capital LLC acquired a new stake in shares of Design Therapeutics in the 2nd quarter valued at $14,859,000. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.