TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Sees Large Increase in Short Interest

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) was the recipient of a significant 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. Based on an average daily volume of 57,900 shares, the short-interest ratio is currently 1.5 days. Approximately 12.9% of the shares of the company are sold short.

Hedge Funds Weigh In On TransCode Therapeutics

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% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price objective on TransCode Therapeutics from $3.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, December 18th.

TransCode Therapeutics Trading Down 5.1 %

RNAZ stock traded down $0.17 on Wednesday, reaching $3.19. 101,982 shares of the company’s stock were exchanged, compared to its average volume of 122,352. The stock has a fifty day moving average of $161.96 and a 200-day moving average of $397.64. TransCode Therapeutics has a twelve month low of $2.66 and a twelve month high of $152.79.

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.