Design Therapeutics, Inc. (NASDAQ:DSGN) Short Interest Update

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,920,000 shares, an increase of 8.1% from the December 15th total of 2,700,000 shares. Currently, 9.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 169,900 shares, the short-interest ratio is presently 17.2 days.

Institutional Investors Weigh In On Design Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Almitas Capital LLC lifted its stake in Design Therapeutics by 22.1% during the second quarter. Almitas Capital LLC now owns 1,253,248 shares of the company’s stock worth $4,198,000 after purchasing an additional 227,180 shares during the last quarter. FMR LLC increased its holdings in shares of Design Therapeutics by 922.8% during the third quarter. FMR LLC now owns 828,665 shares of the company’s stock worth $4,458,000 after buying an additional 747,649 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Design Therapeutics by 7.1% during the third quarter. Geode Capital Management LLC now owns 758,550 shares of the company’s stock worth $4,081,000 after buying an additional 50,579 shares in the last quarter. Barclays PLC increased its holdings in shares of Design Therapeutics by 34.2% during the third quarter. Barclays PLC now owns 96,635 shares of the company’s stock worth $520,000 after buying an additional 24,602 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Design Therapeutics by 66.9% during the second quarter. Point72 Asset Management L.P. now owns 990,801 shares of the company’s stock worth $3,319,000 after buying an additional 397,285 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors.

Design Therapeutics Stock Performance

Shares of DSGN stock traded up $0.32 during trading on Monday, hitting $5.06. The company had a trading volume of 273,682 shares, compared to its average volume of 176,616. The firm has a market capitalization of $286.50 million, a P/E ratio of -5.95 and a beta of 1.82. The stock’s 50-day moving average price is $5.93 and its 200 day moving average price is $5.28. Design Therapeutics has a one year low of $2.24 and a one year high of $7.77.

About Design Therapeutics

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion.