Design Therapeutics (NASDAQ:DSGN) Stock Rating Lowered by Wall Street Zen

Design Therapeutics (NASDAQ:DSGN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

DSGN has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Thursday, October 15th. Royal Bank Of Canada reduced their price target on shares of Design Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company started coverage on shares of Design Therapeutics in a report on Friday, October 2nd. They issued an “overweight” rating and a $26.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.57.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $10.21 on Friday. Design Therapeutics has a one year low of $6.68 and a one year high of $17.25. The company’s 50-day moving average is $12.14 and its 200 day moving average is $12.15. The company has a market capitalization of $653.85 million, a price-to-earnings ratio of -8.51 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. As a group, research analysts predict that Design Therapeutics will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

Several institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in Design Therapeutics during the 2nd quarter valued at about $37,000. Legal & General Group Plc purchased a new stake in shares of Design Therapeutics during the 2nd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Design Therapeutics during the 3rd quarter valued at about $40,000. ADAR1 Capital Management LLC purchased a new stake in shares of Design Therapeutics during the 1st quarter valued at about $106,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Design Therapeutics in the second quarter worth approximately $149,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company’s research has focused on disorders affecting the nervous system, muscles and eyes.