TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Up 184.8% in December

Posted by Stacy Sanders on Dec 29th, 2024

TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Get Free Report) was the target 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 shares are sold short. Based on an average trading volume of 59,000 shares, the days-to-cover ratio is presently 0.9 days.

TransCode Therapeutics Stock Performance

RNAZ opened at $3.67 on Friday. The company has a fifty day simple moving average of $308.26 and a 200 day simple moving average of $500.08. TransCode Therapeutics has a 12 month low of $3.21 and a 12 month high of $236.94.

Institutional Investors Weigh In On TransCode Therapeutics

An institutional investor recently raised its position in TransCode Therapeutics stock. Sheets Smith Wealth Management lifted its position in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Free Report) by 149.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased 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.

Read Our Latest Analysis on RNAZ

TransCode Therapeutics Company Profile

(Get Free Report)

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.