Short Interest in Design Therapeutics, Inc. (NASDAQ:DSGN) Increases By 8.1%

Design Therapeutics, Inc. (NASDAQ:DSGN) was the recipient 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. Based on an average trading volume of 169,900 shares, the short-interest ratio is currently 17.2 days. Approximately 9.3% of the company’s shares are short sold.

Design Therapeutics Trading Down 2.7 %

Design Therapeutics stock opened at $4.72 on Tuesday. The stock has a fifty day moving average price of $5.70 and a 200 day moving average price of $5.36. Design Therapeutics has a 52 week low of $2.24 and a 52 week high of $7.77.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. On average, analysts anticipate that Design Therapeutics will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in shares of Design Therapeutics in the third quarter worth $64,000. China Universal Asset Management Co. Ltd. acquired a new stake in Design Therapeutics in the 4th quarter valued at $74,000. SG Americas Securities LLC purchased a new position in Design Therapeutics in the third quarter valued at about $66,000. The Manufacturers Life Insurance Company acquired a new position in shares of Design Therapeutics during the third quarter worth about $71,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Design Therapeutics in the third quarter worth about $104,000. 56.64% of the stock is owned by hedge funds and other institutional investors.

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.