Design Therapeutics (NASDAQ:DSGN) Stock Price Down 0.2%

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN – Get Rating) dropped 0.2% during mid-day trading on Friday . The stock traded as low as $5.30 and last traded at $5.44. Approximately 470,251 shares changed hands during trading, a decline of 19% from the average daily volume of 580,434 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

DSGN has been the subject of several recent research reports. SVB Leerink lowered their target price on shares of Design Therapeutics from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, December 9th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price objective on shares of Design Therapeutics in a report on Wednesday, March 15th.

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Design Therapeutics Trading Down 0.2 %

The company has a market capitalization of $304.03 million, a PE ratio of -4.77 and a beta of 1.18. The business’s fifty day moving average is $6.84 and its two-hundred day moving average is $10.80.

Hedge Funds Weigh In On Design Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in Design Therapeutics by 28.0% in the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock worth $45,000 after purchasing an additional 711 shares during the period. Envestnet Asset Management Inc. bought a new stake in Design Therapeutics in the 4th quarter worth approximately $126,000. E Fund Management Co. Ltd. bought a new stake in Design Therapeutics in the 4th quarter worth approximately $128,000. GSA Capital Partners LLP bought a new stake in Design Therapeutics in the 4th quarter worth approximately $140,000. Finally, Tower Research Capital LLC TRC grew its position in Design Therapeutics by 48.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,010 shares of the company’s stock worth $151,000 after purchasing an additional 2,951 shares during the period. 71.73% of the stock is currently owned by hedge funds and other institutional investors.

Design Therapeutics Company Profile

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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.

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