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

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

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $6.00.

Design Therapeutics Price Performance

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

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. As a group, research analysts predict that Design Therapeutics will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in shares of Design Therapeutics in the second quarter valued at approximately $43,000. Invesco Ltd. raised its position in Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after buying an additional 3,033 shares during the last quarter. Velan Capital Investment Management LP bought a new position in Design Therapeutics during the 1st quarter valued at $54,000. Jane Street Group LLC purchased a new position in Design Therapeutics during the 1st quarter worth $70,000. Finally, Bank of America Corp DE grew its stake in shares of Design Therapeutics by 11.1% in the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock worth $83,000 after acquiring an additional 2,459 shares in the last quarter. 56.64% of the stock is owned by institutional investors.

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.