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

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a large 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. Approximately 9.3% of the shares of the company are short sold. Based on an average daily trading volume, of 169,900 shares, the short-interest ratio is presently 17.2 days.

Institutional Trading of Design Therapeutics

Several large investors have recently modified their holdings of DSGN. Frazier Life Sciences Management L.P. bought a new stake in shares of Design Therapeutics during the 2nd quarter worth $4,004,000. FMR LLC raised its stake in Design Therapeutics by 922.8% during the 3rd quarter. FMR LLC now owns 828,665 shares of the company’s stock valued at $4,458,000 after purchasing an additional 747,649 shares during the last quarter. Point72 Asset Management L.P. raised its stake 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 valued at $8,612,000 after purchasing an additional 609,939 shares during the last quarter. Almitas Capital LLC raised its stake in Design Therapeutics by 22.1% during the 2nd quarter. Almitas Capital LLC now owns 1,253,248 shares of the company’s stock valued at $4,198,000 after purchasing an additional 227,180 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Design Therapeutics by 43.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,432 shares of the company’s stock valued at $1,385,000 after purchasing an additional 77,472 shares during the last quarter. 56.64% of the stock is owned by institutional investors.

Design Therapeutics Trading Up 6.8 %

NASDAQ DSGN opened at $5.06 on Tuesday. The company has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $5.30. The company has a market cap of $286.50 million, a P/E ratio of -5.95 and a beta of 1.82. Design Therapeutics has a 1 year low of $2.24 and a 1 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.