Short Interest in TransCode Therapeutics, Inc. (NASDAQ:RNAZ) Declines By 53.5%

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

TransCode Therapeutics Price Performance

Shares of RNAZ stock traded up $0.02 during mid-day trading on Friday, hitting $0.55. The company had a trading volume of 725,735 shares, compared to its average volume of 389,178. The stock’s 50 day moving average price is $0.64 and its 200-day moving average price is $5.31. TransCode Therapeutics has a 52-week low of $0.42 and a 52-week high of $356.00. The company has a market capitalization of $3.19 million, a P/E ratio of 0.00 and a beta of -0.35.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On TransCode Therapeutics

A hedge fund recently raised its stake in TransCode Therapeutics stock. Sabby Management LLC raised its position in shares of TransCode Therapeutics, Inc. (NASDAQ:RNAZ) by 32.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,309 shares of the company’s stock after acquiring an additional 61,872 shares during the period. Sabby Management LLC owned approximately 12.33% of TransCode Therapeutics worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

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.