Design Therapeutics (NASDAQ:DSGN) Stock Rating Upgraded by Wall Street Zen

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

A number of other analysts have also recently weighed in on DSGN. Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Craig Hallum began coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday, January 21st. Oppenheimer started coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $6.00 to $13.00 in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Stock Up 0.2%

Shares of DSGN opened at $10.07 on Friday. The company has a 50-day moving average price of $9.72 and a two-hundred day moving average price of $7.59. The stock has a market cap of $573.59 million, a price-to-earnings ratio of -8.46 and a beta of 1.63. Design Therapeutics has a 12 month low of $2.60 and a 12 month high of $10.97.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vivo Capital LLC bought a new position in Design Therapeutics in the 4th quarter valued at $15,129,000. Geode Capital Management LLC lifted its stake in shares of Design Therapeutics by 2.4% during the second 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. State Street Corp boosted its holdings in Design Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after acquiring an additional 13,239 shares during the last quarter. Woodline Partners LP acquired a new stake in Design Therapeutics in the first quarter worth about $2,492,000. Finally, RA Capital Management L.P. acquired a new stake in Design Therapeutics in the third quarter worth about $3,582,000. Institutional investors and hedge funds 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.