TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Sees Significant Growth in Short Interest

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 52,400 shares, a growth of 184.8% from the November 30th total of 18,400 shares. Currently, 7.5% of the company’s stock are sold short. Based on an average daily volume of 59,000 shares, the short-interest ratio is presently 0.9 days.

TransCode Therapeutics Trading Up 10.5 %

Shares of RNAZ opened at $3.89 on Friday. The business’s fifty day moving average is $321.56 and its 200 day moving average is $516.39. TransCode Therapeutics has a 12-month low of $3.21 and a 12-month high of $250.80.

Institutional Inflows and Outflows

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% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Analysts Set New Price Targets

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

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.