Design Therapeutics (NASDAQ:DSGN) Stock Rating Raised to Strong-Buy at Wells Fargo & Company

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

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

Design Therapeutics Stock Performance

Shares of NASDAQ DSGN opened at $12.34 on Friday. The stock has a 50 day moving average price of $13.86 and a 200 day moving average price of $12.92. Design Therapeutics has a 52 week low of $5.28 and a 52 week high of $17.25. The stock has a market capitalization of $772.24 million, a PE ratio of -10.46 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. As a group, research analysts forecast that Design Therapeutics will post -1.41 EPS for the current year.

Institutional Trading of Design Therapeutics

A number of hedge funds have recently made changes to their positions in DSGN. State of Wyoming acquired a new position in shares of Design Therapeutics during the 2nd quarter worth approximately $37,000. Legal & General Group Plc acquired a new stake in Design Therapeutics during the 2nd quarter valued at $43,000. ADAR1 Capital Management LLC acquired a new stake in Design Therapeutics during the 1st quarter valued at $106,000. AXQ Capital LP bought a new position in Design Therapeutics during the fourth quarter worth $110,000. Finally, Royal Bank of Canada boosted its position in Design Therapeutics by 1,681.5% during the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock worth $121,000 after purchasing an additional 10,728 shares during the period. 56.64% of the stock is 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.