TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Up 71.0% in December

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 89,600 shares, a growth of 71.0% from the December 15th total of 52,400 shares. Approximately 12.9% of the company’s stock are sold short. Based on an average trading volume of 57,900 shares, the short-interest ratio is presently 1.5 days.

TransCode Therapeutics Price Performance

Shares of NASDAQ:RNAZ remained flat at $3.35 during midday trading on Friday. 28,739 shares of the stock were exchanged, compared to its average volume of 112,240. The business has a 50-day moving average of $141.64 and a 200 day moving average of $392.17. TransCode Therapeutics has a 12-month low of $2.66 and a 12-month high of $83.16.

Institutional Investors Weigh In On TransCode Therapeutics

An institutional investor recently raised its position in TransCode Therapeutics stock. Sheets Smith Wealth Management lifted its stake in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,138 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Sheets Smith Wealth Management owned about 0.29% of TransCode Therapeutics worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price target on TransCode Therapeutics from $3.00 to $20.00 and gave the company a “buy” rating in a research report 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.