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

Posted by Adam Dyson on Feb 13th, 2025

TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Get Free Report) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 368,300 shares, an increase of 355.3% from the January 15th total of 80,900 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 55.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of TransCode Therapeutics in a research report on Thursday, February 6th.

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Hedge Funds Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sheets Smith Wealth Management increased its position in TransCode Therapeutics, Inc. (NASDAQ:RNAZ – Free Report) by 149.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 Trading Down 0.5 %

Shares of TransCode Therapeutics stock traded down $0.05 on Wednesday, hitting $10.78. The company had a trading volume of 104,066 shares, compared to its average volume of 3,518,095. TransCode Therapeutics has a 52 week low of $2.66 and a 52 week high of $66.33. The business has a 50-day simple moving average of $5.78 and a 200-day simple moving average of $283.07.

About TransCode Therapeutics

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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.