Royal Bank Of Canada Has Lowered Expectations for Design Therapeutics (NASDAQ:DSGN) Stock Price

Design Therapeutics (NASDAQ:DSGN) had its target price decreased by equities researchers at Royal Bank Of Canada from $20.00 to $19.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price would indicate a potential upside of 86.09% from the stock’s current price.

DSGN has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a report on Thursday, October 15th. Wells Fargo & Company started coverage on shares of Design Therapeutics in a report on Friday, October 2nd. They issued an “overweight” rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.57.

Design Therapeutics Price Performance

NASDAQ DSGN traded up $0.54 during trading hours on Thursday, hitting $10.21. The company’s stock had a trading volume of 330,606 shares, compared to its average volume of 462,385. Design Therapeutics has a 12 month low of $6.68 and a 12 month high of $17.25. The company’s 50 day simple moving average is $12.14 and its two-hundred day simple moving average is $12.15. The company has a market cap of $638.94 million, a P/E ratio of -8.51 and a beta of 1.73.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its position in shares of Design Therapeutics by 30.8% during the 3rd quarter. Alps Advisors Inc. now owns 82,927 shares of the company’s stock valued at $1,042,000 after purchasing an additional 19,536 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Design Therapeutics in the third quarter worth approximately $40,000. Profund Advisors LLC purchased a new position in shares of Design Therapeutics in the third quarter worth approximately $180,000. China Universal Asset Management Co. Ltd. grew its position in Design Therapeutics by 25.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 112,419 shares of the company’s stock valued at $1,419,000 after buying an additional 22,479 shares during the period. Finally, Frazier Life Sciences Management L.P. bought a new stake in Design Therapeutics during the second quarter valued at approximately $26,189,000. 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.