TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Down 71.0% in November

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 215,500 shares, a drop of 71.0% from the October 31st total of 743,600 shares. Based on an average trading volume of 1,680,000 shares, the short-interest ratio is presently 0.1 days. Currently, 1.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management increased its stake in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 0.29% of TransCode Therapeutics worth $29,000 at the end of the most recent reporting period.

TransCode Therapeutics Price Performance

RNAZ stock traded down $0.03 during mid-day trading on Thursday, hitting $0.34. The stock had a trading volume of 658,129 shares, compared to its average volume of 1,228,625. The firm has a fifty day simple moving average of $0.50 and a 200 day simple moving average of $0.65. TransCode Therapeutics has a 52 week low of $0.22 and a 52 week high of $18.66.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of TransCode Therapeutics in a research report on Friday, November 15th.

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.