Design Therapeutics (NASDAQ:DSGN) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Design Therapeutics from “hold” to “sell.” Weiss Ratings also rates the stock a sell, though analyst consensus remains “Moderate Buy” with a $18.57 price target.
• Analyst views are mixed: Wells Fargo initiated coverage with an “overweight” rating and a $26 target, while RBC cut its target from $20 to $19 but maintained an “outperform” rating.
• Design Therapeutics reported a quarterly loss of $0.32 per share, slightly better than the $0.34 loss analysts expected. Shares were reported up 5.6%.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on DSGN. Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a research note on Thursday, October 15th. Wells Fargo & Company assumed coverage on Design Therapeutics in a report on Friday, October 2nd. They set an "overweight" rating and a $26.00 target price on the stock. Finally, Royal Bank Of Canada cut their price target on shares of Design Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.57.

Design Therapeutics Trading Up 5.6%

Shares of Design Therapeutics stock opened at $10.21 on Friday. Design Therapeutics has a 12-month low of $6.68 and a 12-month high of $17.25. The company has a market capitalization of $638.94 million, a P/E ratio of -8.51 and a beta of 1.73. The stock has a fifty day simple moving average of $12.14 and a 200 day simple moving average of $12.15.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.02. On average, analysts predict that Design Therapeutics will post -1.41 EPS for the current year.

Institutional Investors Weigh In On Design Therapeutics

Large investors have recently made changes to their positions in the business. Alps Advisors Inc. boosted its position in Design Therapeutics by 30.8% during the third quarter. Alps Advisors Inc. now owns 82,927 shares of the company's stock worth $1,042,000 after purchasing an additional 19,536 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Design Therapeutics during the 3rd quarter valued at $40,000. Profund Advisors LLC purchased a new position in Design Therapeutics during the third quarter valued at $180,000. China Universal Asset Management Co. Ltd. boosted its position in Design Therapeutics by 25.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 112,419 shares of the company's stock valued at $1,419,000 after acquiring an additional 22,479 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Design Therapeutics during the second quarter worth about $26,189,000. 56.64% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.