Wall Street Zen Upgrades Design Therapeutics (NASDAQ:DSGN) to Hold

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

A number of other equities research analysts have also commented on the company. Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $6.00 to $13.00 in a research note on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Finally, 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 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Design Therapeutics Stock Down 3.0%

NASDAQ DSGN opened at $9.10 on Friday. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $10.31. The business has a 50 day moving average price of $8.52 and a 200-day moving average price of $6.33. The company has a market cap of $518.34 million, a price-to-earnings ratio of -7.65 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly 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, equities research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake 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 valued at $175,000 after purchasing an additional 4,896 shares during the period. RA Capital Management L.P. bought a new stake in shares of Design Therapeutics during the third quarter valued at about $3,582,000. Millennium Management LLC purchased a new stake in shares of Design Therapeutics in the third quarter worth about $518,000. Kennedy Capital Management LLC lifted its holdings in shares of Design Therapeutics by 95.9% in the third quarter. Kennedy Capital Management LLC now owns 29,411 shares of the company’s stock worth $221,000 after buying an additional 14,401 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position 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 valued at $48,000 after acquiring an additional 2,618 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. 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.