Design Therapeutics (NASDAQ:DSGN) Stock Picked Up by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company started coverage on shares of Design Therapeutics (NASDAQ:DSGN) in a research note issued on Friday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $26.00 price target on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 109.51% from the company’s current price.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.86.

Design Therapeutics Price Performance

Shares of DSGN stock traded up $0.07 during trading hours on Friday, hitting $12.41. The company had a trading volume of 480,960 shares, compared to its average volume of 600,310. The stock has a market capitalization of $776.62 million, a PE ratio of -10.52 and a beta of 1.68. The company’s fifty day moving average is $13.86 and its 200 day moving average is $12.93. Design Therapeutics has a fifty-two week low of $5.28 and a fifty-two week high of $17.25.

Design Therapeutics (NASDAQ:DSGN) last posted 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. Equities analysts forecast that Design Therapeutics will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Design Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. bought a new position in Design Therapeutics during the second quarter valued at about $26,189,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Design Therapeutics during the 2nd quarter valued at about $182,000. Wellington Management Group LLP acquired a new position in shares of Design Therapeutics during the 2nd quarter valued at about $281,000. Public Employees Retirement System of Ohio bought a new position in shares of Design Therapeutics in the 2nd quarter valued at approximately $300,000. Finally, Almitas Capital LLC bought a new position in shares of Design Therapeutics in the 2nd quarter valued at 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.