Design Therapeutics (NASDAQ:DSGN) Receives Sector Perform Rating from Royal Bank of Canada

Design Therapeutics (NASDAQ:DSGN)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They currently have a $4.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 1.96% from the stock’s current price.

Separately, Piper Sandler raised shares of Design Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $6.00 to $12.00 in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.60.

Design Therapeutics Stock Down 3.1 %

DSGN stock opened at $4.08 on Tuesday. The business has a 50 day moving average price of $3.99 and a 200 day moving average price of $3.56. The stock has a market cap of $230.50 million, a price-to-earnings ratio of -3.89 and a beta of 1.83. Design Therapeutics has a fifty-two week low of $1.94 and a fifty-two week high of $7.83.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. As a group, sell-side analysts anticipate that Design Therapeutics will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DSGN. Pale Fire Capital SE purchased a new stake in shares of Design Therapeutics in the fourth quarter valued at about $28,000. Nisa Investment Advisors LLC increased its position in Design Therapeutics by 38,433.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock valued at $31,000 after acquiring an additional 11,530 shares during the period. Federated Hermes Inc. raised its stake in Design Therapeutics by 317.6% during the 4th quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock valued at $32,000 after acquiring an additional 9,126 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Design Therapeutics during the 1st quarter worth approximately $45,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Design Therapeutics in the 1st quarter valued at approximately $46,000. 56.64% of the stock is owned by hedge funds and other 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.