Design Therapeutics (NASDAQ:DSGN) Upgraded by Wall Street Zen to Hold Rating

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

DSGN has been the topic of a number of other reports. Royal Bank Of Canada raised 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 research report on Thursday, November 20th. Oppenheimer initiated coverage on Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Craig Hallum began coverage on shares of Design Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price for the company. Finally, Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Stock Performance

Shares of DSGN stock opened at $10.07 on Friday. Design Therapeutics has a fifty-two week low of $2.60 and a fifty-two week high of $10.97. The stock’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $7.54. The company has a market cap of $573.59 million, a PE ratio of -8.46 and a beta of 1.63.

Institutional Trading of Design Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in shares of Design Therapeutics in the 2nd quarter worth approximately $43,000. Jane Street Group LLC purchased a new stake in Design Therapeutics during the 1st quarter worth approximately $70,000. 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 purchasing an additional 3,033 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Design Therapeutics by 69.6% in the third quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after buying an additional 2,618 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Design Therapeutics during the fourth quarter worth $110,000. 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. 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.