Design Therapeutics (NASDAQ:DSGN) Stock Price Down 13.5% – Should You Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN) dropped 13.5% during mid-day trading on Thursday . The company traded as low as $14.13 and last traded at $13.6510. Approximately 83,889 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 312,742 shares. The stock had previously closed at $15.79.

Wall Street Analyst Weigh In

DSGN has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Design Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $15.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $20.00 target price on shares of Design Therapeutics in a report on Wednesday. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Oppenheimer initiated coverage on shares of Design Therapeutics in a report on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Design Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Design Therapeutics Stock Performance

The business’s fifty day moving average price is $11.33 and its two-hundred day moving average price is $9.65. The stock has a market capitalization of $858.94 million, a P/E ratio of -11.27 and a beta of 1.57.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.07. As a group, analysts forecast that Design Therapeutics, Inc. will post -1.46 earnings per share for the current year.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. DLD Asset Management LP purchased a new stake in Design Therapeutics in the third quarter worth $376,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Design Therapeutics by 206.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 34,982 shares of the company’s stock worth $263,000 after purchasing an additional 23,580 shares during the period. Deutsche Bank AG bought a new position in shares of Design Therapeutics in the 4th quarter worth $146,000. MetLife Investment Management LLC raised its position in shares of Design Therapeutics by 47.8% in the 4th quarter. MetLife Investment Management LLC now owns 15,249 shares of the company’s stock worth $143,000 after acquiring an additional 4,929 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Design Therapeutics in the 4th quarter worth $131,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

Design Therapeutics Company Profile

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.