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

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

Institutional Investors Weigh In On Design Therapeutics

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Design Therapeutics by 11.1% in the 2nd 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. Invesco Ltd. grew its stake in shares of Design Therapeutics by 26.8% in the 2nd quarter. Invesco Ltd. now owns 14,364 shares of the company’s stock valued at $48,000 after buying an additional 3,033 shares in the last quarter. MPM Bioimpact LLC grew its stake in shares of Design Therapeutics by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 562,943 shares of the company’s stock valued at $2,173,000 after buying an additional 3,396 shares in the last quarter. American Century Companies Inc. boosted its position in Design Therapeutics by 13.5% during the first quarter. American Century Companies Inc. now owns 44,415 shares of the company’s stock worth $171,000 after purchasing an additional 5,300 shares during the period. Finally, Velan Capital Investment Management LP boosted its position in Design Therapeutics by 42.9% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $67,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 56.64% of the company’s stock.

Design Therapeutics Trading Up 0.6%

Shares of Design Therapeutics stock opened at $6.53 on Friday. The company’s 50-day moving average price is $6.16 and its two-hundred day moving average price is $4.74. Design Therapeutics has a 52 week low of $2.60 and a 52 week high of $7.77. The stock has a market cap of $371.88 million, a PE ratio of -5.83 and a beta of 1.68.

Design Therapeutics (NASDAQ:DSGN) last posted 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 analysts predict that Design Therapeutics will post -0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Design Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Design Therapeutics presently has an average rating of “Sell”.

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.