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

TransCode Therapeutics Inc. (NASDAQ:RNAZ) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 56,527 shares, a growth of 100.9% from the May 31st total of 28,142 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average daily volume of 230,735 shares, the days-to-cover ratio is currently 0.2 days.

TransCode Therapeutics Trading Up 23.2%

RNAZ stock traded up $1.44 during trading on Wednesday, hitting $7.65. 67,776 shares of the stock traded hands, compared to its average volume of 152,024. The stock has a market cap of $7.27 million, a price-to-earnings ratio of -0.15 and a beta of 1.28. TransCode Therapeutics has a one year low of $3.82 and a one year high of $20.99. The company has a 50 day simple moving average of $6.29 and a 200 day simple moving average of $8.04.

TransCode Therapeutics (NASDAQ:RNAZ) last posted its quarterly earnings data on Friday, May 15th. The company reported ($21.28) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of TransCode Therapeutics in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

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. The company is also developing TTX-siPDL1, an siRNA-based modulator of programmed death-ligand 1; and TTX-siLIN28B, an siRNA-based inhibitor of RNA-binding protein LIN28B.