Short Interest in Design Therapeutics, Inc. (NASDAQ:DSGN) Rises By 7.2%

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,390,000 shares, an increase of 7.2% from the March 31st total of 2,230,000 shares. Based on an average daily volume of 258,100 shares, the short-interest ratio is presently 9.3 days. Currently, 7.2% of the company’s stock are short sold.

Design Therapeutics Stock Performance

Shares of Design Therapeutics stock opened at $3.62 on Thursday. Design Therapeutics has a one year low of $1.94 and a one year high of $8.47. The stock’s fifty day moving average is $3.34 and its 200 day moving average is $2.70. The stock has a market cap of $204.51 million, a P/E ratio of -3.02 and a beta of 1.82.

Design Therapeutics (NASDAQ:DSGN) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. Analysts predict that Design Therapeutics will post -1.26 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price target on shares of Design Therapeutics in a report on Wednesday, March 20th. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Design Therapeutics in a report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Design Therapeutics currently has a consensus rating of “Hold” and an average price target of $5.50.

Insider Buying and Selling at Design Therapeutics

In other Design Therapeutics news, Director John P. Schmid bought 9,156 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were acquired at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the purchase, the director now owns 9,156 shares in the company, valued at approximately $33,144.72. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John P. Schmid purchased 17,809 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $3.74 per share, with a total value of $66,605.66. Following the acquisition, the director now directly owns 26,965 shares of the company’s stock, valued at $100,849.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John P. Schmid purchased 9,156 shares of the stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $3.62 per share, for a total transaction of $33,144.72. Following the completion of the acquisition, the director now directly owns 9,156 shares in the company, valued at $33,144.72. The disclosure for this purchase can be found here. Company insiders own 25.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DSGN. Pale Fire Capital SE purchased a new position in shares of Design Therapeutics during the fourth quarter valued at about $28,000. Nisa Investment Advisors LLC raised its stake in shares of Design Therapeutics by 38,433.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the company’s stock valued at $31,000 after acquiring an additional 11,530 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Design Therapeutics by 317.6% during the fourth quarter. Federated Hermes Inc. now owns 11,999 shares of the company’s stock valued at $32,000 after acquiring an additional 9,126 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Design Therapeutics during the first quarter valued at approximately $46,000. Finally, SG Americas Securities LLC bought a new stake in shares of Design Therapeutics during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

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.