Design Therapeutics (NASDAQ:DSGN) Given New $6.00 Price Target at Royal Bank Of Canada

Design Therapeutics (NASDAQ:DSGN) had its target price lifted by research analysts at Royal Bank Of Canada from $5.00 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 7.12% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $6.00.

Design Therapeutics Stock Performance

DSGN traded down $0.09 during midday trading on Thursday, reaching $6.46. The company had a trading volume of 8,277 shares, compared to its average volume of 145,848. The business has a 50-day moving average price of $6.26 and a two-hundred day moving average price of $4.84. Design Therapeutics has a 12-month low of $2.60 and a 12-month high of $7.77. The stock has a market cap of $367.90 million, a PE ratio of -5.77 and a beta of 1.67.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DSGN. Acadian Asset Management LLC lifted its holdings in Design Therapeutics by 11.2% in the first quarter. Acadian Asset Management LLC now owns 630,953 shares of the company’s stock valued at $2,434,000 after acquiring an additional 63,349 shares during the period. Almitas Capital LLC grew its holdings in Design Therapeutics by 9.8% during the first quarter. Almitas Capital LLC now owns 1,452,896 shares of the company’s stock valued at $5,608,000 after purchasing an additional 129,229 shares during the period. Wellington Management Group LLP bought a new stake in Design Therapeutics during the first quarter valued at about $546,000. Nuveen LLC bought a new stake in Design Therapeutics during the first quarter valued at about $568,000. Finally, Velan Capital Investment Management LP bought a new stake in Design Therapeutics during the first quarter valued at about $54,000. 56.64% of the stock is owned by institutional investors.

About Design Therapeutics

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.