Design Therapeutics (NASDAQ:DSGN) Cut to Sell at Wall Street Zen

Design Therapeutics (NASDAQ:DSGN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also recently weighed in on the company. Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $15.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $6.00 to $13.00 in a research report on Thursday, November 20th. Leerink Partners set a $14.00 price objective on shares of Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday. Finally, Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Design Therapeutics Trading Down 0.5%

Shares of DSGN stock opened at $9.77 on Friday. The stock has a market capitalization of $556.50 million, a P/E ratio of -8.21 and a beta of 1.63. The firm’s 50 day moving average is $7.27 and its 200 day moving average is $5.52. Design Therapeutics has a 12 month low of $2.60 and a 12 month high of $10.31.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, equities analysts predict that Design Therapeutics will post -0.91 EPS for the current year.

Institutional Trading of Design Therapeutics

A number of hedge funds have recently bought and sold shares of DSGN. Bank of America Corp DE raised its stake in shares of Design Therapeutics by 11.1% during the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after acquiring an additional 2,459 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 2,618 shares during the period. Invesco Ltd. increased its holdings in Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after purchasing an additional 3,033 shares during the period. MPM Bioimpact LLC raised its position in Design Therapeutics by 0.6% during the 1st quarter. MPM Bioimpact LLC now owns 562,943 shares of the company’s stock valued at $2,173,000 after purchasing an additional 3,396 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Design Therapeutics by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,221 shares of the company’s stock worth $175,000 after buying an additional 4,896 shares during the period. Institutional investors 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.