Design Therapeutics (NASDAQ:DSGN) Shares Down 5.4% – Time to Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price fell 5.4% on Monday . The company traded as low as $14.90 and last traded at $14.79. 306,622 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 585,822 shares. The stock had previously closed at $15.64.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DSGN shares. 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. Royal Bank Of Canada upped their price target on Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Cantor Fitzgerald started coverage on shares of Design Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating on the stock. Oppenheimer raised their price objective on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Design Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Design Therapeutics Trading Down 6.3%

The firm has a market capitalization of $915.66 million, a PE ratio of -12.23 and a beta of 1.58. The company has a fifty day moving average price of $12.57 and a two-hundred day moving average price of $11.18.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. As a group, equities research analysts predict that Design Therapeutics, Inc. will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors have recently modified their holdings of DSGN. Elmind Capital LP acquired a new stake in Design Therapeutics during the 4th quarter worth $1,950,000. DLD Asset Management LP purchased a new stake in shares of Design Therapeutics in the third quarter valued at about $376,000. Baker BROS. Advisors LP raised its holdings in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock valued at $20,946,000 after buying an additional 520,217 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Design Therapeutics during the first quarter worth about $106,000. Finally, AlphaCentric Advisors LLC grew its holdings in shares of Design Therapeutics by 4.8% during the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock worth $226,000 after buying an additional 969 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

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.