Design Therapeutics (NASDAQ:DSGN) Stock Price Down 13.5% – Here’s Why

Design Therapeutics, Inc. (NASDAQ:DSGN) was down 13.5% on Thursday . The stock traded as low as $14.13 and last traded at $13.6510. Approximately 83,889 shares changed hands during trading, a decline of 73% from the average daily volume of 312,742 shares. The stock had previously closed at $15.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DSGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. Jefferies Financial Group started coverage on Design Therapeutics in a research report on Monday, March 16th. They set a “buy” rating and a $15.00 target price on the stock. Oppenheimer started coverage on Design Therapeutics in a research report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $20.00 target price on shares of Design Therapeutics in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Design Therapeutics has an average rating of “Moderate Buy” and an average price target of $16.00.

Design Therapeutics Stock Performance

The stock has a fifty day moving average of $11.40 and a 200-day moving average of $9.67. The company has a market cap of $830.72 million, a PE ratio of -11.08 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. As a group, equities analysts anticipate that Design Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

A number of large investors have recently bought and sold shares of DSGN. Woodline Partners LP purchased a new position in Design Therapeutics during the 1st quarter valued at $2,492,000. Jane Street Group LLC purchased a new position in Design Therapeutics during the 1st quarter valued at $70,000. Strs Ohio purchased a new position in Design Therapeutics during the 1st quarter valued at $87,000. Geode Capital Management LLC boosted its holdings in Design Therapeutics by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after acquiring an additional 18,511 shares during the period. Finally, Invesco Ltd. boosted 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 acquiring an additional 3,033 shares during the period. Hedge funds and other 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.