Design Therapeutics (NASDAQ:DSGN) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Design Therapeutics (DSGN) from a "hold" to a "sell."
• Despite that downgrade, the consensus across analysts remains a Moderate Buy with an average price target of $16 and individual targets ranging roughly $14–$20.
• DSGN opened at $13.30 with a market cap of about $830.7M; the company reported Q1 EPS of ($0.29), beating estimates, while analysts expect roughly -1.41 EPS for the current fiscal year.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on DSGN. Royal Bank Of Canada increased their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a research note on Monday, April 20th. Piper Sandler reissued an "overweight" rating and set a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday. Jefferies Financial Group began coverage on Design Therapeutics in a research note on Monday, March 16th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Oppenheimer began coverage on Design Therapeutics in a report on Wednesday, January 7th. They issued an "outperform" rating and a $18.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

Design Therapeutics Stock Down 2.2%

DSGN stock opened at $13.30 on Friday. The firm has a 50 day moving average of $11.40 and a two-hundred day moving average of $9.67. Design Therapeutics has a 12 month low of $3.11 and a 12 month high of $17.25. The company has a market capitalization of $830.72 million, a price-to-earnings ratio of -11.08 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.07. On average, research analysts expect that Design Therapeutics will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Design Therapeutics

Hedge funds have recently bought and sold shares of the company. Torren Management LLC bought a new position in shares of Design Therapeutics in the fourth quarter worth about $26,000. Russell Investments Group Ltd. boosted its stake in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock valued at $48,000 after purchasing an additional 2,618 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Design Therapeutics in the 4th quarter valued at approximately $67,000. AXQ Capital LP acquired a new stake in Design Therapeutics in the 4th quarter valued at approximately $110,000. Finally, Engineers Gate Manager LP bought a new position in Design Therapeutics in the 4th quarter worth approximately $131,000. 56.64% of the stock is currently owned by institutional investors.

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.

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