TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Sees Large Increase in Short Interest

Posted by Editorial Team on Dec 29th, 2024

TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Get Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 52,400 shares, an increase of 184.8% from the November 30th total of 18,400 shares. Approximately 7.5% of the company’s stock are sold short. Based on an average daily volume of 59,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management increased its position in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Free Report) by 149.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,138 shares of the company’s stock after buying an additional 30,000 shares during the period. Sheets Smith Wealth Management owned 0.29% of TransCode Therapeutics worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

TransCode Therapeutics Trading Down 5.7 %

RNAZ opened at $3.67 on Friday. The business’s 50-day simple moving average is $308.26 and its 200 day simple moving average is $500.08. TransCode Therapeutics has a 52-week low of $3.21 and a 52-week high of $236.94.

Analysts Set New Price Targets

Separately, HC Wainwright raised their target price on shares of TransCode Therapeutics from $3.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th.

Read Our Latest Report on TransCode Therapeutics

About TransCode Therapeutics

(Get Free Report)

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.