TransCode Therapeutics (NASDAQ:RNAZ) Stock Price Down 4.6% – Here’s Why

TransCode Therapeutics Inc. (NASDAQ:RNAZ) was down 4.6% during mid-day trading on Monday . The stock traded as low as $8.69 and last traded at $9.07. Approximately 8,904 shares changed hands during trading, a decline of 27% from the average daily volume of 12,139 shares. The stock had previously closed at $9.51.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen lowered TransCode Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of TransCode Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $280.00.

TransCode Therapeutics Stock Performance

The stock has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.05. The firm has a market cap of $8.34 million, a PE ratio of -0.33 and a beta of 1.52.

TransCode Therapeutics (NASDAQ:RNAZ) last posted its quarterly earnings results on Friday, November 14th. The company reported ($5.49) EPS for the quarter, beating the consensus estimate of ($9.24) by $3.75. As a group, equities analysts predict that TransCode Therapeutics Inc. will post -4.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TransCode Therapeutics stock. Anson Funds Management LP purchased a new stake in TransCode Therapeutics Inc. (NASDAQ:RNAZ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,462,112 shares of the company’s stock, valued at approximately $724,000. Anson Funds Management LP owned 175.52% of TransCode Therapeutics at the end of the most recent reporting period.

TransCode Therapeutics Company Profile

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.