Design Therapeutics (NASDAQ:DSGN) Shares Down 6.2% – Time to Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN) fell 6.2% on Tuesday. The company traded as low as $10.47 and last traded at $10.2360. Approximately 52,014 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 595,226 shares. The stock had previously closed at $10.91.

Analyst Ratings Changes

DSGN has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Friday, July 17th. Wells Fargo & Company initiated coverage on Design Therapeutics in a research note on Friday, October 2nd. They issued an “overweight” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Design Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $17.86.

Design Therapeutics Price Performance

The stock has a market capitalization of $608.90 million, a price-to-earnings ratio of -8.25 and a beta of 1.68. The stock’s 50 day simple moving average is $13.65 and its 200-day simple moving average is $12.97.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. As a group, equities research analysts anticipate that Design Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Several large investors have recently made changes to their positions in DSGN. J. Goldman & Co LP acquired a new position in Design Therapeutics in the 2nd quarter valued at $2,558,000. Bank of New York Mellon Corp bought a new position in Design Therapeutics in the 2nd quarter worth $1,332,000. Frazier Life Sciences Management L.P. bought a new position in Design Therapeutics in the 2nd quarter worth $26,189,000. Dimensional Fund Advisors LP lifted its position in Design Therapeutics by 45.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company’s stock worth $4,593,000 after acquiring an additional 133,919 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Design Therapeutics by 42.2% during the 1st quarter. Renaissance Technologies LLC now owns 408,200 shares of the company’s stock worth $4,343,000 after acquiring an additional 121,100 shares during the last quarter. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Company Profile

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics’ GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.