Royal Bank of Canada restated their outperform rating on shares of Design Therapeutics (NASDAQ:DSGN – Get Rating) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $24.00 price objective on the stock.
Other analysts also recently issued research reports about the company. Wedbush cut their price target on Design Therapeutics from $26.00 to $19.00 in a research note on Thursday, December 8th. SVB Leerink decreased their target price on Design Therapeutics from $30.00 to $22.00 and set an outperform rating on the stock in a report on Friday, December 9th.
Design Therapeutics Price Performance
NASDAQ DSGN opened at $6.48 on Wednesday. Design Therapeutics has a 1-year low of $6.08 and a 1-year high of $26.30. The stock has a 50-day moving average of $7.67 and a 200-day moving average of $12.35.
Insiders Place Their Bets
Institutional Trading of Design Therapeutics
A number of hedge funds have recently bought and sold shares of DSGN. Alliancebernstein L.P. grew its stake in shares of Design Therapeutics by 30.2% in the 4th quarter. Alliancebernstein L.P. now owns 27,600 shares of the company’s stock valued at $283,000 after buying an additional 6,400 shares during the period. Silverarc Capital Management LLC purchased a new position in shares of Design Therapeutics during the 4th quarter worth approximately $585,000. E Fund Management Co. Ltd. purchased a new position in shares of Design Therapeutics during the 4th quarter worth approximately $128,000. Avoro Capital Advisors LLC lifted its holdings in Design Therapeutics by 2.3% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,272,222 shares of the company’s stock worth $23,313,000 after buying an additional 50,000 shares in the last quarter. Finally, RA Capital Management L.P. lifted its holdings in Design Therapeutics by 7.1% during the 4th quarter. RA Capital Management L.P. now owns 2,971,231 shares of the company’s stock worth $30,485,000 after buying an additional 198,000 shares in the last quarter. Institutional investors and hedge funds own 71.73% of the company’s stock.
About Design Therapeutics
Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.
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