TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Down 37.2% in March

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 339,800 shares, a decline of 37.2% from the February 28th total of 540,900 shares. Based on an average trading volume of 6,040,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 54.3% of the shares of the company are short sold.

TransCode Therapeutics Stock Performance

Shares of RNAZ traded down $0.03 during trading hours on Friday, hitting $0.49. 22,887,058 shares of the company were exchanged, compared to its average volume of 1,742,585. TransCode Therapeutics has a fifty-two week low of $0.49 and a fifty-two week high of $66.33. The firm’s fifty day moving average is $5.01 and its 200 day moving average is $217.77.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of TransCode Therapeutics in a research note on Thursday, March 13th.

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.