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

Design Therapeutics, Inc. (NASDAQ:DSGN) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,920,000 shares, an increase 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 stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Design Therapeutics by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 118,110 shares of the company’s stock valued at $396,000 after acquiring an additional 2,868 shares in the last quarter. American Century Companies Inc. acquired a new position in Design Therapeutics during the second quarter worth approximately $71,000. Dimensional Fund Advisors LP lifted its stake in Design Therapeutics by 119.7% in the second quarter. Dimensional Fund Advisors LP now owns 80,953 shares of the company’s stock valued at $271,000 after buying an additional 44,098 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Design Therapeutics during the second quarter worth approximately $81,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Design Therapeutics by 75.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,497 shares of the company’s stock valued at $79,000 after acquiring an additional 10,113 shares during the period. 56.64% of the stock is owned by hedge funds and other institutional investors.

Design Therapeutics Stock Performance

Design Therapeutics stock traded up $0.32 during mid-day trading on Friday, hitting $5.06. The company had a trading volume of 273,682 shares, compared to its average volume of 176,616. Design Therapeutics has a 1 year low of $2.24 and a 1 year high of $7.77. The business has a fifty day moving average of $5.93 and a 200 day moving average of $5.27.

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.