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

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) saw a large decrease in short interest in 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 short-interest ratio is presently 0.1 days. Currently, 24.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of TransCode Therapeutics in a report on Thursday, February 6th.

Hedge Funds Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management grew 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 SEC. The firm 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 quarter.

TransCode Therapeutics Stock Performance

Shares of TransCode Therapeutics stock opened at $1.98 on Friday. The firm’s 50 day simple moving average is $5.98 and its two-hundred day simple moving average is $257.51. TransCode Therapeutics has a 12-month low of $1.89 and a 12-month high of $66.33.

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.