Design Therapeutics, Inc. (NASDAQ:DSGN) Sees Significant Increase in Short Interest

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

Hedge Funds Weigh In On Design Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its holdings in Design Therapeutics by 58.3% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,892,547 shares of the company’s stock worth $10,182,000 after purchasing an additional 697,368 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in Design Therapeutics by 2.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,743,725 shares of the company’s stock worth $9,381,000 after purchasing an additional 48,431 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Design Therapeutics by 61.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,600,740 shares of the company’s stock worth $8,612,000 after purchasing an additional 609,939 shares in the last quarter. FMR LLC increased its holdings in Design Therapeutics by 922.8% during the 3rd quarter. FMR LLC now owns 828,665 shares of the company’s stock worth $4,458,000 after purchasing an additional 747,649 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Design Therapeutics by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 758,550 shares of the company’s stock valued at $4,081,000 after acquiring an additional 50,579 shares in the last quarter. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Stock Down 2.7 %

Shares of Design Therapeutics stock opened at $4.72 on Tuesday. The stock’s fifty day simple moving average is $5.70 and its 200 day simple moving average is $5.36. Design Therapeutics has a 12 month low of $2.24 and a 12 month high of $7.77.

Design Therapeutics (NASDAQ:DSGN) last released its earnings results on Thursday, November 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. As a group, research analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Design Therapeutics Company Profile

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.