Design Therapeutics (NASDAQ:DSGN) Rating Lowered to “Sell” at Wall Street Zen

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

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

Design Therapeutics Price Performance

DSGN stock opened at $9.77 on Friday. The company’s 50-day moving average is $7.27 and its 200-day moving average is $5.52. The stock has a market capitalization of $556.50 million, a PE ratio of -8.21 and a beta of 1.63. Design Therapeutics has a 1 year low of $2.60 and a 1 year high of $10.31.

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

Institutional Trading of Design Therapeutics

Several hedge funds have recently added to or reduced their stakes in DSGN. Woodline Partners LP bought a new position in shares of Design Therapeutics during the 1st quarter valued at approximately $2,492,000. RA Capital Management L.P. purchased a new position in Design Therapeutics in the third quarter valued at approximately $3,582,000. Nuveen LLC bought a new position in Design Therapeutics during the first quarter valued at $568,000. Wellington Management Group LLP purchased a new stake in Design Therapeutics in the first quarter worth $546,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Design Therapeutics by 17.7% in the first quarter. Driehaus Capital Management LLC now owns 913,399 shares of the company’s stock valued at $3,526,000 after buying an additional 137,317 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.