Short Interest in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Decreases By 55.8%

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 162,900 shares, a decrease of 55.8% from the January 31st total of 368,300 shares. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 24.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of TransCode Therapeutics in a research note on Thursday, February 6th.

TransCode Therapeutics Trading Down 21.4 %

RNAZ stock traded down $0.54 during midday trading on Friday, hitting $1.98. 1,274,715 shares of the company traded hands, compared to its average volume of 2,647,784. TransCode Therapeutics has a twelve month low of $1.89 and a twelve month high of $66.33. The business has a 50 day simple moving average of $5.98 and a 200-day simple moving average of $257.43.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management increased its holdings in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 50,138 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Sheets Smith Wealth Management owned approximately 0.29% of TransCode Therapeutics worth $29,000 at the end of the most recent reporting period.

About TransCode Therapeutics

TransCode Therapeutics, Inc, a ribonucleic acid (RNA) oncology company, focuses on the development and commercialization of drugs and diagnostics for treating and identifying various cancers. Its lead therapeutic candidate is TTX-MC138 that targets microRNA-10b, a master regulator of metastatic cell viability in a range of cancers, including breast, pancreatic, ovarian, colon cancer, glioblastomas, and others.