Design Therapeutics (NASDAQ:DSGN) Trading Down 4.7% – Time to Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN) shares traded down 4.7% during mid-day trading on Monday . The company traded as low as $10.18 and last traded at $10.1540. 218,671 shares were traded during trading, a decline of 58% from the average session volume of 516,561 shares. The stock had previously closed at $10.65.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Jefferies Financial Group assumed coverage on Design Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $15.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Design Therapeutics in a report on Tuesday, May 12th. They set an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Finally, Oppenheimer raised their price target on Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Stock Performance

The stock has a market capitalization of $657.08 million, a P/E ratio of -8.77 and a beta of 1.63. The firm has a 50-day moving average price of $12.30 and a 200 day moving average price of $10.67.

Design Therapeutics (NASDAQ:DSGN) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.07. On average, equities analysts anticipate that Design Therapeutics, Inc. will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several institutional investors have recently modified their holdings of DSGN. Torren Management LLC bought a new position in Design Therapeutics during the 4th quarter worth approximately $26,000. Russell Investments Group Ltd. grew its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after acquiring an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Design Therapeutics during the 4th quarter worth approximately $67,000. ADAR1 Capital Management LLC bought a new position in Design Therapeutics during the 1st quarter worth approximately $106,000. Finally, Royal Bank of Canada grew its position in Design Therapeutics by 1,681.5% during the 1st quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock worth $121,000 after acquiring an additional 10,728 shares during the last quarter. 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.