TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Short Interest Down 55.8% in February

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 162,900 shares, a decline of 55.8% from the January 31st total of 368,300 shares. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 24.7% of the shares of the company are short sold.

TransCode Therapeutics Stock Down 21.4 %

NASDAQ RNAZ traded down $0.54 during trading on Friday, reaching $1.98. 1,274,715 shares of the company traded hands, compared to its average volume of 2,647,784. TransCode Therapeutics has a 1-year low of $1.89 and a 1-year high of $66.33. The stock’s 50 day moving average price is $5.98 and its two-hundred day moving average price is $257.43.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of TransCode Therapeutics in a report on Thursday, February 6th.

Institutional Trading of TransCode Therapeutics

An institutional investor recently raised its position in TransCode Therapeutics stock. Sheets Smith Wealth Management grew its position in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 149.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,138 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Sheets Smith Wealth Management owned about 0.29% of TransCode Therapeutics worth $29,000 as of its most recent filing with the SEC.

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.