Design Therapeutics (NASDAQ:DSGN) Stock Price Down 5.8% – Time to Sell?

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) were down 5.8% during mid-day trading on Tuesday . The company traded as low as $9.12 and last traded at $9.2870. Approximately 160,037 shares changed hands during trading, a decline of 11% from the average daily volume of 179,954 shares. The stock had previously closed at $9.86.

Wall Street Analysts Forecast Growth

DSGN has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. Leerink Partnrs raised shares of Design Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Craig Hallum started coverage on shares of Design Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen downgraded Design Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Leerink Partners set a $14.00 price target on Design Therapeutics and gave the stock 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 given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Design Therapeutics has an average rating of “Moderate Buy” and an average target price of $14.00.

Design Therapeutics Stock Down 5.9%

The stock has a market cap of $528.30 million, a P/E ratio of -7.78 and a beta of 1.63. The firm has a 50 day moving average price of $7.33 and a 200 day moving average price of $5.59.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Equities analysts predict that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock valued at $48,000 after acquiring an additional 2,618 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Design Therapeutics during the second quarter worth about $43,000. Velan Capital Investment Management LP purchased a new stake in Design Therapeutics during the first quarter worth $54,000. Invesco Ltd. increased its position in shares of 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 buying an additional 3,033 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Design Therapeutics during the 1st quarter worth approximately $70,000. 56.64% of the stock is owned by hedge funds and other 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.