Design Therapeutics (NASDAQ:DSGN) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Design Therapeutics (NASDAQ:DSGN) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on the company. Royal Bank Of Canada dropped their price objective on Design Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday. Wells Fargo & Company initiated coverage on Design Therapeutics in a report on Friday, October 2nd. They set an “overweight” rating and a $26.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Design Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $18.57.

Design Therapeutics Trading Up 5.6%

Design Therapeutics stock opened at $10.21 on Friday. The firm has a market capitalization of $638.94 million, a price-to-earnings ratio of -8.51 and a beta of 1.73. The firm’s fifty day moving average price is $12.14 and its two-hundred day moving average price is $12.15. Design Therapeutics has a 1-year low of $6.68 and a 1-year high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Wednesday, November 4th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. On average, research analysts forecast that Design Therapeutics will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSGN. BlackRock Inc. purchased a new position in shares of Design Therapeutics in the second quarter worth about $38,491,000. Trails Edge Capital Partners LP purchased a new stake in shares of Design Therapeutics during the 2nd quarter valued at approximately $28,958,550. Frazier Life Sciences Management L.P. purchased a new stake in shares of Design Therapeutics during the 2nd quarter valued at approximately $26,189,000. Almitas Capital LLC purchased a new stake in shares of Design Therapeutics during the 2nd quarter valued at approximately $14,859,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Design Therapeutics by 45.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company’s stock worth $4,593,000 after buying an additional 133,919 shares during the period. Institutional investors own 56.64% of the company’s stock.

About Design Therapeutics

Design Therapeutics, Inc (NASDAQ: DSGN) is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company’s research has focused on disorders affecting the nervous system, muscles and eyes.