TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Down 56.0% in June

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 448,500 shares, a decrease of 56.0% from the May 31st total of 1,020,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 6.9% of the company’s shares are sold short.

TransCode Therapeutics Stock Performance

Shares of NASDAQ RNAZ traded down $0.01 during trading on Friday, reaching $1.01. 217,557 shares of the company traded hands, compared to its average volume of 983,637. The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.84. TransCode Therapeutics has a 52-week low of $0.42 and a 52-week high of $128.00.

Institutional Investors Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sabby Management LLC boosted its position in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 32.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,309 shares of the company’s stock after buying an additional 61,872 shares during the quarter. Sabby Management LLC owned 12.33% of TransCode Therapeutics worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of TransCode Therapeutics in a research report on Wednesday, May 29th.

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.