Is rnaz a good buy

**TransCode Therapeutics Inc. (RNAZ) does not appear to be a good buy at this time**, and here's why:

1. **Financial Performance**: TransCode reported a net loss of $5.19 million and a diluted EPS of -$0.74 for the quarter ending June 30, 2024. The company's financials show a downward trend in net income and total revenue, with no reported revenue for the quarter.
2. **Technical Indicators**: The stock's closing price on September 20, 2024, was $0.35, which is below its 50-day moving average of $0.46, suggesting a bearish trend. The RSI is at 70.98, indicating that the stock is in the overbought territory and may experience a price correction.
3. **Market Sentiment**: There has been a substantial increase in short interest, with the short-interest ratio currently at 1.1 days, indicating that investors are bearish on the stock. Additionally, the company has recently priced a public offering of its shares at a significant discount, which could be perceived negatively by investors.
4. **Analyst Ratings**: Despite the bearish market sentiment, HC Wainwright has restated their buy rating on RNAZ with a price target of $3.00, which is a substantial upside from the current price. However, this rating may not be reflective of the current market sentiment.
5. **Strategic Developments**: TransCode has published a study revealing mechanisms behind its lead therapeutic candidate's preclinical efficacy, which could be a positive sign for the company's future prospects. Additionally, the company has been awarded a $2 million NIH grant to support clinical evaluation of TTX-MC138, which could contribute to its growth.

In conclusion, while there is potential for growth based on recent strategic developments, the current financial and market indicators suggest that TransCode Therapeutics Inc. is not a good buy at this time. Investors should exercise caution and consider the high risk associated with the stock.