Short Interest in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Drops By 39.0%

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 743,600 shares, a drop of 39.0% from the October 15th total of 1,220,000 shares. Approximately 4.3% of the company’s shares are short sold. Based on an average trading volume of 1,700,000 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management raised its position in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,138 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Sheets Smith Wealth Management owned approximately 0.29% of TransCode Therapeutics worth $29,000 at the end of the most recent quarter.

TransCode Therapeutics Price Performance

RNAZ traded down $0.01 during trading on Friday, reaching $0.34. 264,385 shares of the company were exchanged, compared to its average volume of 1,253,209. The firm has a 50 day moving average of $0.49 and a 200 day moving average of $0.69. TransCode Therapeutics has a 52 week low of $0.22 and a 52 week high of $18.66.

TransCode Therapeutics (NASDAQ:RNAZ) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.16). On average, research analysts forecast that TransCode Therapeutics will post -2.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of TransCode Therapeutics in a research note on Friday.

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.