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

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) saw a large decrease in short interest during 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. Approximately 4.3% of the company’s stock are short sold. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of TransCode Therapeutics in a research report on Friday.

Institutional Investors Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management raised its position in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,138 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Sheets Smith Wealth Management owned about 0.29% of TransCode Therapeutics worth $29,000 at the end of the most recent reporting period.

TransCode Therapeutics Price Performance

TransCode Therapeutics stock traded down $0.01 during mid-day trading on Friday, reaching $0.34. 264,385 shares of the company’s stock traded hands, compared to its average volume of 1,253,209. TransCode Therapeutics has a 12-month low of $0.22 and a 12-month high of $18.66. The stock has a 50 day moving average of $0.49 and a two-hundred day moving average of $0.69.

TransCode Therapeutics (NASDAQ:RNAZ) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.16). Sell-side analysts forecast that TransCode Therapeutics will post -2.06 EPS for the current fiscal year.

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.