Design Therapeutics (NASDAQ:DSGN) Rating Increased to Hold at Wall Street Zen

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

DSGN has been the subject of a number of other research reports. Leerink Partners set a $14.00 price objective on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Oppenheimer started coverage on Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price target for the company. Craig Hallum began coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank Of Canada upgraded shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $13.00 in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Design Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Stock Performance

Shares of Design Therapeutics stock opened at $10.07 on Friday. The firm has a fifty day moving average of $9.72 and a two-hundred day moving average of $7.57. The stock has a market capitalization of $573.59 million, a price-to-earnings ratio of -8.46 and a beta of 1.63. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $10.97.

Institutional Trading of Design Therapeutics

A number of large investors have recently bought and sold shares of DSGN. Marshall Wace LLP acquired a new stake in Design Therapeutics during the 4th quarter worth approximately $2,115,000. Vivo Capital LLC bought a new stake in shares of Design Therapeutics during the fourth quarter worth $15,129,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Design Therapeutics during the fourth quarter worth $1,825,000. State Street Corp lifted its position in Design Therapeutics by 2.1% in the 4th quarter. State Street Corp now owns 647,636 shares of the company’s stock valued at $6,075,000 after acquiring an additional 13,239 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Design Therapeutics by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 26,786 shares of the company’s stock worth $251,000 after purchasing an additional 8,469 shares during the period. 56.64% of the stock is 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.