Design Therapeutics (NASDAQ:DSGN) Shares Down 4.5% – What’s Next?

by · The Markets Daily

Design Therapeutics, Inc. (NASDAQ:DSGN – Get Free Report)’s share price fell 4.5% during mid-day trading on Wednesday . The company traded as low as $9.43 and last traded at $9.3540. 246,384 shares were traded during mid-day trading, an increase of 22% from the average session volume of 201,241 shares. The stock had previously closed at $9.79.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DSGN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered Design Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Royal Bank Of Canada raised Design Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $6.00 to $13.00 in a research report on Thursday, November 20th. Craig Hallum initiated coverage on Design Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Finally, Leerink Partners set a $14.00 price target on Design Therapeutics and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Design Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Check Out Our Latest Research Report on Design Therapeutics

Design Therapeutics Stock Performance

The stock has a 50 day moving average of $8.31 and a 200-day moving average of $6.21. The company has a market cap of $536.85 million, a PE ratio of -7.92 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. Equities research analysts forecast that Design Therapeutics, Inc. will post -0.91 EPS for the current year.

Institutional Trading of Design Therapeutics

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in shares of Design Therapeutics in the second quarter worth $43,000. Invesco Ltd. boosted its holdings in Design Therapeutics by 26.8% in the second 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 last quarter. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares during the period. Velan Capital Investment Management LP grew its position in Design Therapeutics by 42.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after purchasing an additional 6,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Design Therapeutics during the 1st quarter valued at about $70,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

About Design Therapeutics

(Get Free Report)

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.

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