Insider Selling: Design Therapeutics, Inc. (NASDAQ:DSGN) Director Sells 3,806 Shares of Stock

Design Therapeutics, Inc. (NASDAQ:DSGN) Director Deepa Prasad sold 3,806 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $6.27, for a total transaction of $23,863.62. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $125,400. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Design Therapeutics Price Performance

Shares of NASDAQ:DSGN traded up $0.04 during trading hours on Thursday, hitting $5.99. The company’s stock had a trading volume of 296,400 shares, compared to its average volume of 235,578. The firm’s fifty day moving average price is $5.85 and its 200 day moving average price is $4.96. Design Therapeutics, Inc. has a 52 week low of $2.24 and a 52 week high of $7.77. The company has a market capitalization of $339.16 million, a price-to-earnings ratio of -7.05 and a beta of 1.86.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently bought and sold shares of the business. Paloma Partners Management Co purchased a new stake in Design Therapeutics during the third quarter worth $64,000. SG Americas Securities LLC purchased a new stake in shares of Design Therapeutics during the 3rd quarter worth $66,000. American Century Companies Inc. purchased a new stake in shares of Design Therapeutics during the 2nd quarter worth $71,000. The Manufacturers Life Insurance Company bought a new stake in Design Therapeutics during the third quarter valued at about $71,000. Finally, Cubist Systematic Strategies LLC grew its stake in Design Therapeutics by 75.6% in the second quarter. Cubist Systematic Strategies LLC now owns 23,497 shares of the company’s stock valued at $79,000 after purchasing an additional 10,113 shares during the last quarter. 56.64% of the stock is owned by hedge funds and other 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.