Design Therapeutics (NASDAQ:DSGN) Rating Lowered 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 note issued to investors on Saturday.

Several other research firms have also issued reports on DSGN. Craig Hallum began coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target on the stock. Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, October 8th. Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $13.00 in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Design Therapeutics Stock Performance

NASDAQ:DSGN opened at $9.28 on Friday. The company has a market capitalization of $528.59 million, a price-to-earnings ratio of -7.80 and a beta of 1.63. Design Therapeutics has a one year low of $2.60 and a one year high of $10.31. The stock has a 50-day simple moving average of $9.04 and a 200 day simple moving average of $6.68.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DSGN. Bank of America Corp DE grew its stake in shares of Design Therapeutics by 11.1% in the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after purchasing an additional 2,459 shares in the last quarter. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after buying an additional 2,618 shares in the last quarter. Invesco Ltd. increased its stake 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 buying an additional 3,033 shares during the period. JPMorgan Chase & Co. raised its position in shares of Design Therapeutics by 26.7% during 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 in the last quarter. Finally, Velan Capital Investment Management LP lifted its stake in shares of Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after acquiring an additional 6,000 shares during the period. 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.