Design Therapeutics (NASDAQ:DSGN) Trading Down 4.7% – Time to Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares dropped 4.7% during mid-day trading on Monday . The stock traded as low as $10.18 and last traded at $10.1540. Approximately 218,671 shares were traded during trading, a decline of 58% from the average daily volume of 516,561 shares. The stock had previously closed at $10.65.

Analysts Set New Price Targets

DSGN has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Design Therapeutics in a research report on Monday, March 16th. They set a “buy” rating and a $15.00 price target on the stock. Cantor Fitzgerald initiated coverage on Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating on the stock. Royal Bank Of Canada raised their price target on Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Design Therapeutics Trading Down 1.2%

The firm has a fifty day simple moving average of $12.30 and a two-hundred day simple moving average of $10.67. The firm has a market cap of $657.08 million, a PE ratio of -8.77 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. Equities analysts expect that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Design Therapeutics in the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. lifted its stake in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after purchasing an additional 2,618 shares during the period. Invesco Ltd. lifted its stake in shares of Design Therapeutics by 26.8% in 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 during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Design Therapeutics in the 4th quarter valued at approximately $67,000. Finally, Jane Street Group LLC purchased a new position in shares of Design Therapeutics in the 1st quarter valued at approximately $70,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

About Design Therapeutics

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.