Design Therapeutics price target lowered to $4 from $7 at RBC Capital

RBC Capital analyst Leonid Timashev lowered the firm’s price target on Design Therapeutics to $4 from $7 and keeps a Sector Perform rating on the shares. Design cut its opex as the company looks to realign their expense base and cash runway with future strategic priorities, the analyst tells investors in a research note. The firm sees potential for the geneTAC platform given early evidence of activity in humans, but given likely longer development timelines and limited near-term catalysts, sees shares as range bound.