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

TransCode Therapeutics, Inc. (NASDAQ:RNAZ) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 18,600 shares, a decrease of 53.5% from the March 31st total of 40,000 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 588,800 shares, the days-to-cover ratio is presently 0.0 days.

TransCode Therapeutics Stock Up 4.7 %

NASDAQ:RNAZ traded up $0.02 during midday trading on Friday, hitting $0.55. The stock had a trading volume of 725,735 shares, compared to its average volume of 389,178. TransCode Therapeutics has a one year low of $0.42 and a one year high of $356.00. The company has a market capitalization of $3.19 million, a price-to-earnings ratio of 0.00 and a beta of -0.35. The stock has a 50-day moving average of $0.64 and a 200 day moving average of $5.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sabby Management LLC raised its stake in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 32.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,309 shares of the company’s stock after acquiring an additional 61,872 shares during the quarter. Sabby Management LLC owned approximately 12.33% of TransCode Therapeutics worth $126,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating on shares of TransCode Therapeutics in a research note on Tuesday, April 16th.

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.