TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Update

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

Institutional Investors Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management raised its stake in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,138 shares of the company’s stock after acquiring 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 reporting period.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of TransCode Therapeutics in a report on Friday.

TransCode Therapeutics Price Performance

NASDAQ:RNAZ traded down $0.01 during midday trading on Friday, hitting $0.34. The company’s stock had a trading volume of 264,385 shares, compared to its average volume of 1,253,209. TransCode Therapeutics has a fifty-two week low of $0.22 and a fifty-two week high of $18.66. The firm’s 50 day moving average is $0.49 and its 200-day moving average is $0.69.

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

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.