Design Therapeutics (NASDAQ:DSGN) Stock Gets Price Target Reduction from Royal Bank Of Canada

Design Therapeutics (NASDAQ:DSGN) had its price target lowered by equities researchers at Royal Bank Of Canada from $20.00 to $19.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 91.44% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Design Therapeutics in a research note on Friday, October 2nd. They set an “overweight” rating and a $26.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.57.

Design Therapeutics Stock Performance

Shares of DSGN traded down $0.70 during mid-day trading on Thursday, hitting $9.93. 233,090 shares of the company’s stock were exchanged, compared to its average volume of 583,753. The stock’s 50-day moving average is $12.36 and its 200-day moving average is $12.14. Design Therapeutics has a fifty-two week low of $6.23 and a fifty-two week high of $17.25. The company has a market cap of $621.11 million, a price-to-earnings ratio of -8.39 and a beta of 1.73.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. As a group, equities research analysts anticipate that Design Therapeutics will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DSGN. J. Goldman & Co LP acquired a new stake in Design Therapeutics during the 2nd quarter valued at approximately $2,558,000. Bank of New York Mellon Corp acquired a new position in Design Therapeutics in the second quarter valued at approximately $1,332,000. Frazier Life Sciences Management L.P. bought a new position in Design Therapeutics during the 2nd quarter worth $26,189,000. Renaissance Technologies LLC lifted its position in Design Therapeutics by 42.2% in the 1st quarter. Renaissance Technologies LLC now owns 408,200 shares of the company’s stock valued at $4,343,000 after purchasing an additional 121,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Design Therapeutics by 45.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 431,840 shares of the company’s stock worth $4,593,000 after buying an additional 133,919 shares in the last quarter. 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 developing small-molecule medicines for genetic diseases caused by nucleotide repeat expansions. The company’s GeneTAC, or gene-targeted activation compound, platform is designed to reactivate genes that have been silenced by these repeat expansions, with the goal of restoring production of beneficial proteins.

The company’s research has focused on disorders affecting the nervous system, muscles and eyes.