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

Design Therapeutics, Inc. (NASDAQ:DSGN) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 1,993,557 shares, a decline of 14.0% from the January 15th total of 2,317,010 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average trading volume of 354,260 shares, the days-to-cover ratio is currently 5.6 days. Based on an average trading volume of 354,260 shares, the days-to-cover ratio is currently 5.6 days. Approximately 4.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Leerink Partners set a $14.00 price target on shares of Design Therapeutics and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Craig Hallum started coverage on shares of Design Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen upgraded Design Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Royal Bank Of Canada upgraded Design Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $6.00 to $13.00 in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Design Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Design Therapeutics Price Performance

Shares of DSGN opened at $10.03 on Thursday. The firm has a 50 day simple moving average of $9.75 and a two-hundred day simple moving average of $7.70. Design Therapeutics has a one year low of $2.60 and a one year high of $10.97. The company has a market cap of $571.35 million, a P/E ratio of -8.43 and a beta of 1.63.

Institutional Trading of Design Therapeutics

Several large investors have recently bought and sold shares of DSGN. Torren Management LLC bought a new position in Design Therapeutics in the fourth quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Design Therapeutics during the 2nd quarter valued at approximately $43,000. Russell Investments Group Ltd. increased its position in Design Therapeutics by 69.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company’s stock worth $48,000 after purchasing an additional 2,618 shares in the last quarter. Invesco Ltd. increased its position in Design Therapeutics by 26.8% during the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after purchasing an additional 3,033 shares in the last quarter. Finally, Velan Capital Investment Management LP lifted its stake in Design Therapeutics by 42.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock valued at $67,000 after purchasing an additional 6,000 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

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. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.