TransCode Therapeutics Inc. (NASDAQ: RNAZ) stock fell -9.65% on Friday to $0.67 against a previous-day closing price of $0.74. With 0.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.24 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.7151 whereas the lowest price it dropped to was $0.6480. The 52-week range on RNAZ shows that it touched its highest point at $31.00 and its lowest point at $0.66 during that stretch. It currently has a 1-year price target of $12.00. Beta for the stock currently stands at -0.51.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RNAZ was down-trending over the past week, with a drop of -34.76%, but this was down by -58.21% over a month. Three-month performance dropped to -74.58% while six-month performance fell -90.31%. The stock lost -97.09% in the past year, while it has lost -95.03% so far this year. A look at the trailing 12-month EPS for RNAZ yields -24.50 with Next year EPS estimates of -1.25. For the next quarter, that number is -1.09. This implies an EPS growth rate of -66.70% for this year and 77.90% for next year.
Float and Shares Shorts:
At present, 2.03 million RNAZ shares are outstanding with a float of 1.77 million shares on hand for trading. On Aug 30, 2023, short shares totaled 24360.0, which was 1.20% higher than short shares on Jul 30, 2023. In addition to Mr. Robert Michael Dudley as the firm’s Co-Founder, CEO, Pres & Director, Mr. Thomas A. Fitzgerald M.B.A. serves as its CFO, VP of Admin. & Director.
Institutional Ownership:
Through their ownership of 1.59% of RNAZ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.06% of RNAZ, in contrast to 10.05% held by mutual funds. Shares owned by individuals account for 0.18%. As the largest shareholder in RNAZ with 9.30% of the stake, Sabby Management LLC holds 188,437 shares worth 188,437. A second-largest stockholder of RNAZ, G1 Execution Services LLC, holds 13,662 shares, controlling over 0.67% of the firm’s shares. Tower Research Capital LLC is the third largest shareholder in RNAZ, holding 5,108 shares or 0.25% stake. With a 0.13% stake in RNAZ, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 2,629 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.04% of RNAZ stock, is the second-largest Mutual Fund holder. It holds 851 shares valued at 1234.0. Fidelity Series Total Market Inde holds 0.01% of the stake in RNAZ, owning 198 shares worth 287.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, RNAZ reported revenue of $0.00 and operating income of -$4.67M. The EBITDA in the recently reported quarter was -$4.65M and diluted EPS was -$7.20.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RNAZ since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RNAZ analysts setting a high price target of $12.00 and a low target of $12.00, the average target price over the next 12 months is $12.00. Based on these targets, RNAZ could surge 1691.04% to reach the target high and rise by 1691.04% to reach the target low. Reaching the average price target will result in a growth of 1691.04% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RNAZ stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 18,607 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 37,607 while 0 shares were sold.
