Design Therapeutics (NASDAQ:DSGN) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Design Therapeutics to “strong buy,” while Weiss Ratings maintained a “sell (D-)” view. Overall, analysts have an average “Buy” rating and a $17.86 target price.
• Design Therapeutics shares opened at $12.34 and were up 0.8%; the stock has traded between $5.28 and $17.25 over the past year. The company reported a quarterly loss of $0.32 per share, beating estimates by $0.02.
• Institutional ownership stands at 56.64%, with Frazier Life Sciences Management and Almitas Capital among investors that recently established sizable positions.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) was upgraded by Wells Fargo & Company to a "strong-buy" rating in a note issued to investors on Friday, Zacks reports.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Design Therapeutics presently has an average rating of "Buy" and an average target price of $17.86.

Design Therapeutics Trading Up 0.8%

Shares of Design Therapeutics stock opened at $12.34 on Friday. Design Therapeutics has a 1 year low of $5.28 and a 1 year high of $17.25. The company has a market cap of $772.24 million, a P/E ratio of -10.46 and a beta of 1.68. The stock has a 50-day moving average price of $13.86 and a 200 day moving average price of $12.92.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. On average, equities analysts forecast that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

Several institutional investors have recently made changes to their positions in DSGN. Frazier Life Sciences Management L.P. acquired a new position in Design Therapeutics in the second quarter worth approximately $26,189,000. Susquehanna Fundamental Investments LLC acquired a new stake in Design Therapeutics in the second quarter valued at approximately $182,000. Wellington Management Group LLP acquired a new stake in Design Therapeutics in the second quarter valued at approximately $281,000. Public Employees Retirement System of Ohio bought a new stake in Design Therapeutics in the second quarter worth approximately $300,000. Finally, Almitas Capital LLC bought a new stake in Design Therapeutics in the second quarter worth approximately $14,859,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

Design Therapeutics, Inc NASDAQ: DSGN is a clinical-stage biotechnology company focused on developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company's approach is designed to address the underlying genetic mechanisms of these disorders by restoring the expression of genes that have been silenced or disrupted.

Design Therapeutics' GeneTAC, or gene-targeted activation compound, platform is intended to selectively reactivate disease-associated genes without directly modifying DNA.

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