Design Therapeutics (NASDAQ:DSGN) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Design Therapeutics (NASDAQ:DSGN) to a strong-buy rating in a report released on Friday,Zacks reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Design Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $17.86.

Design Therapeutics Price Performance

Shares of NASDAQ DSGN opened at $12.34 on Friday. The business’s 50 day moving average is $13.86 and its two-hundred day moving average is $12.93. Design Therapeutics has a 52-week low of $5.28 and a 52-week high of $17.25. The firm has a market cap of $772.24 million, a price-to-earnings ratio of -10.46 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Analysts anticipate that Design Therapeutics will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds have recently made changes to their positions in DSGN. AlphaCentric Advisors LLC grew its position in Design Therapeutics by 4.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock valued at $226,000 after buying an additional 969 shares during the last quarter. State of Wyoming acquired a new stake in shares of Design Therapeutics in the 2nd quarter worth $37,000. Legal & General Group Plc purchased a new stake in shares of Design Therapeutics in the second quarter valued at about $43,000. Public Employees Retirement System of Ohio increased its stake in shares of Design Therapeutics by 114.2% during the first quarter. Public Employees Retirement System of Ohio now owns 15,193 shares of the company’s stock worth $162,000 after acquiring an additional 8,100 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new position in Design Therapeutics during the first quarter worth about $106,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

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.