Design Therapeutics, Inc. (NASDAQ:DSGN) Short Interest Up 16.7% in July

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,560,000 shares, a growth of 16.7% from the July 15th total of 3,050,000 shares. Based on an average trading volume of 205,600 shares, the days-to-cover ratio is presently 17.3 days. Approximately 10.7% of the shares of the company are short sold.

Insider Buying and Selling

In other Design Therapeutics news, Director Arsani William sold 814,874 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $4.25, for a total transaction of $3,463,214.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.20% of the stock is owned by insiders.

Institutional Trading of Design Therapeutics

Several large investors have recently modified their holdings of DSGN. Pale Fire Capital SE bought a new stake in Design Therapeutics during the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Design Therapeutics in the 1st quarter valued at approximately $45,000. Simplicity Wealth LLC bought a new stake in shares of Design Therapeutics during the 1st quarter worth approximately $46,000. Bleakley Financial Group LLC acquired a new stake in shares of Design Therapeutics during the 1st quarter worth approximately $46,000. Finally, Nisa Investment Advisors LLC increased its stake in Design Therapeutics by 38,433.3% in 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 during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

Design Therapeutics Stock Performance

NASDAQ:DSGN traded up $0.16 during mid-day trading on Friday, reaching $4.45. 82,654 shares of the company’s stock were exchanged, compared to its average volume of 237,840. Design Therapeutics has a one year low of $1.94 and a one year high of $5.27. The business’s fifty day simple moving average is $4.02 and its two-hundred day simple moving average is $3.65. The firm has a market capitalization of $251.40 million, a PE ratio of -4.24 and a beta of 1.83.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Monday, August 5th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. As a group, equities research analysts forecast that Design Therapeutics will post -1.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of Design Therapeutics in a report on Tuesday, August 6th. Piper Sandler raised Design Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $12.00 in a report on Tuesday, May 7th.

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.