RBC Capital Downgrades Design Therapeutics

Fintel reports that on August 15, 2023, RBC Capital downgraded their outlook for Design Therapeutics (NASDAQ:DSGN) from Outperform to Sector Perform.

Analyst Price Forecast Suggests 268.76% Upside

As of August 2, 2023, the average one-year price target for Design Therapeutics is 27.03. The forecasts range from a low of 19.19 to a high of $44.10. The average price target represents an increase of 268.76% from its latest reported closing price of 7.33.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Design Therapeutics is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -1.59.

What is the Fund Sentiment?

There are 223 funds or institutions reporting positions in Design Therapeutics. This is a decrease of 6 owner(s) or 2.62% in the last quarter. Average portfolio weight of all funds dedicated to DSGN is 0.11%, a decrease of 30.27%. Total shares owned by institutions increased in the last three months by 5.06% to 41,297K shares. The put/call ratio of DSGN is 0.17, indicating a bullish outlook.

What are Other Shareholders Doing?

Sr One Capital Management holds 6,526K shares representing 11.67% ownership of the company. No change in the last quarter.

Cormorant Asset Management holds 5,150K shares representing 9.21% ownership of the company. No change in the last quarter.

Avoro Capital Advisors holds 3,500K shares representing 6.26% ownership of the company. No change in the last quarter.

Ra Capital Management holds 2,971K shares representing 5.31% ownership of the company. No change in the last quarter.

Citadel Advisors holds 2,865K shares representing 5.12% ownership of the company. In it’s prior filing, the firm reported owning 2,503K shares, representing an increase of 12.66%. The firm decreased its portfolio allocation in DSGN by 39.38% over the last quarter.

Design Therapeutics Background Information
(This description is provided by the company.)

Design Therapeutics is a biotechnology company developing a new class of therapies based on a platform of gene targeted chimera (GeneTAC™) small molecules. The company’s lead program is focused on the treatment of Friedreich ataxia, followed by a program in myotonic dystrophy type-1 and discovery efforts for multiple other serious degenerative disorders caused by nucleotide repeat expansions.

This article originally appeared on Fintel