Design Therapeutics, Inc. (NASDAQ:DSGN) Short Interest Up 8.1% in December

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,920,000 shares, a growth of 8.1% from the December 15th total of 2,700,000 shares. Based on an average trading volume of 169,900 shares, the days-to-cover ratio is currently 17.2 days. Approximately 9.3% of the company’s shares are short sold.

Design Therapeutics Price Performance

Design Therapeutics stock traded up $0.32 during midday trading on Friday, hitting $5.06. 273,682 shares of the stock were exchanged, compared to its average volume of 176,616. The stock’s 50-day simple moving average is $5.93 and its 200 day simple moving average is $5.27. Design Therapeutics has a fifty-two week low of $2.24 and a fifty-two week high of $7.77.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Almitas Capital LLC lifted its position in Design Therapeutics by 22.1% in the second quarter. Almitas Capital LLC now owns 1,253,248 shares of the company’s stock valued at $4,198,000 after buying an additional 227,180 shares during the last quarter. FMR LLC raised its position in Design Therapeutics by 922.8% in the third quarter. FMR LLC now owns 828,665 shares of the company’s stock valued at $4,458,000 after purchasing an additional 747,649 shares during the period. Geode Capital Management LLC lifted its stake in Design Therapeutics by 7.1% during the third quarter. Geode Capital Management LLC now owns 758,550 shares of the company’s stock worth $4,081,000 after purchasing an additional 50,579 shares in the last quarter. Barclays PLC boosted its position in shares of Design Therapeutics by 34.2% during the third quarter. Barclays PLC now owns 96,635 shares of the company’s stock worth $520,000 after buying an additional 24,602 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Design Therapeutics by 66.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 990,801 shares of the company’s stock valued at $3,319,000 after buying an additional 397,285 shares during the period. Institutional investors and hedge funds 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.