Design Therapeutics, Inc. (NASDAQ:DSGN) Sees Significant Growth in Short Interest

Design Therapeutics, Inc. (NASDAQ:DSGN - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,390,000 shares, an increase of 7.2% from the March 31st total of 2,230,000 shares. Currently, 7.2% of the shares of the stock are short sold. Based on an average trading volume of 258,100 shares, the days-to-cover ratio is currently 9.3 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DSGN. Wedbush reaffirmed a "neutral" rating and issued a $5.00 price objective on shares of Design Therapeutics in a research note on Wednesday, March 20th. Royal Bank of Canada reissued a "sector perform" rating and set a $4.00 target price on shares of Design Therapeutics in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.50.

Design Therapeutics Trading Up 2.8 %

NASDAQ:DSGN traded up $0.10 on Wednesday, reaching $3.62. 144,926 shares of the stock traded hands, compared to its average volume of 256,250. The firm has a market capitalization of $204.51 million, a price-to-earnings ratio of -3.02 and a beta of 1.82. The company's 50 day moving average is $3.34 and its 200-day moving average is $2.70. Design Therapeutics has a 1-year low of $1.94 and a 1-year high of $8.47.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) last released its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.32) by $0.11. On average, equities research analysts forecast that Design Therapeutics will post -1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Design Therapeutics news, Director John P. Schmid bought 9,156 shares of the stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $3.62 per share, with a total value of $33,144.72. Following the completion of the purchase, the director now owns 9,156 shares in the company, valued at $33,144.72. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director John P. Schmid acquired 17,809 shares of the stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $3.74 per share, with a total value of $66,605.66. Following the completion of the purchase, the director now directly owns 26,965 shares of the company's stock, valued at approximately $100,849.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schmid acquired 9,156 shares of the stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of $3.62 per share, with a total value of $33,144.72. Following the purchase, the director now directly owns 9,156 shares of the company's stock, valued at $33,144.72. The disclosure for this purchase can be found here. Insiders own 25.70% of the company's stock.

Hedge Funds Weigh In On Design Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. RTW Investments LP boosted its holdings in shares of Design Therapeutics by 60.8% during the 3rd quarter. RTW Investments LP now owns 2,512,986 shares of the company's stock worth $5,931,000 after buying an additional 949,955 shares in the last quarter. BML Capital Management LLC bought a new position in shares of Design Therapeutics in the 4th quarter worth $2,728,000. Assenagon Asset Management S.A. lifted its holdings in shares of Design Therapeutics by 41.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 347,794 shares of the company's stock worth $1,402,000 after purchasing an additional 102,567 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Design Therapeutics in the 3rd quarter worth $425,000. Finally, Strs Ohio bought a new position in shares of Design Therapeutics in the 3rd quarter worth $171,000. 56.64% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.