Design Therapeutics’ (DSGN) Outperform Rating Reaffirmed at Royal Bank of Canada

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

In other Design Therapeutics news, major shareholder Sr One Capital Fund I. Aggregat purchased 40,000 shares of the stock in a transaction on Tuesday, December 20th. The shares were bought at an average cost of $8.14 per share, with a total value of $325,600.00. Following the completion of the acquisition, the insider now owns 6,526,476 shares in the company, valued at $53,125,514.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Sr One Capital Fund I. Aggregat acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, December 20th. The stock was acquired at an average price of $8.14 per share, for a total transaction of $325,600.00. Following the completion of the transaction, the insider now owns 6,526,476 shares in the company, valued at approximately $53,125,514.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Simeon George acquired 360,000 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was purchased at an average price of $8.63 per share, with a total value of $3,106,800.00. Following the transaction, the director now owns 6,486,476 shares of the company’s stock, valued at approximately $55,978,287.88. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 401,150 shares of company stock valued at $3,442,141. 25.70% of the stock is currently owned by insiders.

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

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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.