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

Design Therapeutics, Inc. (NASDAQ:DSGN) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 1,910,000 shares, a decrease of 46.2% from the September 30th total of 3,550,000 shares. Based on an average trading volume of 176,200 shares, the days-to-cover ratio is presently 10.8 days. Currently, 6.1% of the shares of the company are sold short. Currently, 6.1% of the shares of the company are sold short. Based on an average trading volume of 176,200 shares, the days-to-cover ratio is presently 10.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in Design Therapeutics during the second quarter worth $43,000. Invesco Ltd. raised its stake in Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock worth $48,000 after acquiring an additional 3,033 shares in the last quarter. Velan Capital Investment Management LP acquired a new stake in shares of Design Therapeutics in the first quarter valued at $54,000. Jane Street Group LLC acquired a new stake in shares of Design Therapeutics in the first quarter valued at $70,000. Finally, Bank of America Corp DE increased its stake in shares of Design Therapeutics by 11.1% in the second quarter. Bank of America Corp DE now owns 24,625 shares of the company’s stock valued at $83,000 after buying an additional 2,459 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Price Performance

Design Therapeutics stock opened at $6.53 on Friday. The stock has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $4.74. Design Therapeutics has a 52-week low of $2.60 and a 52-week high of $7.77. The firm has a market capitalization of $371.88 million, a P/E ratio of -5.83 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, equities research analysts predict that Design Therapeutics will post -0.91 EPS for the current fiscal 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.