TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Down 55.8% in February

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

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% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,138 shares of the company’s stock after buying an additional 30,000 shares during the period. Sheets Smith Wealth Management owned about 0.29% of TransCode Therapeutics worth $29,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

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

TransCode Therapeutics Trading Down 21.4 %

Shares of RNAZ stock opened at $1.98 on Friday. TransCode Therapeutics has a twelve month low of $1.89 and a twelve month high of $66.33. The stock has a 50 day moving average of $5.98 and a 200 day moving average of $257.51.

TransCode Therapeutics Company Profile

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.