Design Therapeutics (NASDAQ:DSGN) Cut to “Sell” at Wall Street Zen

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

DSGN has been the topic of several other reports. Wells Fargo & Company initiated coverage on shares of Design Therapeutics in a report on Friday, October 2nd. They issued an “overweight” rating and a $26.00 price objective on the stock. Royal Bank Of Canada lowered their target price on shares of Design Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Thursday, October 15th. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.57.

Design Therapeutics Trading Up 5.8%

Design Therapeutics stock opened at $10.80 on Friday. The company has a market cap of $675.86 million, a PE ratio of -9.00 and a beta of 1.73. Design Therapeutics has a 1 year low of $6.68 and a 1 year high of $17.25. The company’s 50-day moving average is $12.05 and its two-hundred day moving average is $12.15.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly 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. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in shares of Design Therapeutics during the 2nd quarter worth about $37,000. Legal & General Group Plc bought a new stake in shares of Design Therapeutics in the 2nd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Design Therapeutics in the 3rd quarter valued at approximately $40,000. ADAR1 Capital Management LLC acquired a new stake in shares of Design Therapeutics in the 1st quarter valued at approximately $106,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Design Therapeutics in the 2nd quarter valued at approximately $149,000. 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 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.