Why TransCode Therapeutics (RNAZ) Stock Is Diving

TransCode Therapeutics Inc (NASDAQ:RNAZ) shares are trading lower by 16% to 29 cents during Monday’s session after the company announced a 1-for-33 reverse stock split.

What Else: Under the split, every 33 shares of common stock will convert to 1 new share, with no fractional shares issued; fractions will round up to whole shares.

This adjustment reduces outstanding shares from approximately 17.3 million to around 696,233. Stock options, warrants, and incentive plans will adjust proportionally.

The stock will trade on a split-adjusted basis under the “RNAZ” symbol starting December 4, though the company says Nasdaq listing compliance is not guaranteed.

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Should I Sell My RNAZ Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of TransCode Therapeutics have decreased by 96.84% in the past year. An investor who bought shares of TransCode Therapeutics at the beginning of the year would take a loss of $6.17 per share if they sold it today. The stock has fallen 43.96% over the past month, meaning an investor who bought shares on Nov. 1 would see a capital loss of $0.23.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. TransCode Therapeutics stock currently has an RSI of 50.27, indicating neutral conditions.

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RNAZ has a 52-week high of $9.60 and a 52-week low of $0.22.