Why Transcode Therapeutics (RNAZ) Stock Is Down 60%

Transcode Therapeutics Inc RNAZ shares are trading lower by 62% to $0.30 during Tuesday’s session after the company announced pricing of its public offering.

The public offering of 10 million shares of its common stock will be at $0.30 per share, aiming to raise $3 million before deducting expenses. The offering is set to close on July 24, pending usual conditions.

The funds will be used for product development, including clinical trials for TTX-MC138, their lead therapeutic candidate, and related studies as well as for general corporate purposes.

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Should I Sell My RNAZ Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

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RNAZ has a 52-week high of $128.00 and a 52-week low of $0.30.