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TransCode Therapeutics, Inc. (RNAZ)

USD8.70 +0.12 (+1.34%)
US NASDAQ Healthcare Biotechnology
Address 6 Liberty Square 2109
Boston, MA, US
CEO Philippe Calais
IPO 2021-07-08
CIK 1829635 ISIN US89357L5012

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Description

TransCode Therapeutics, Inc. is a biopharmaceutical firm dedicated to pioneering and marketing therapeutic agents and diagnostic tools specifically aimed at combating and detecting metastatic disease. Central to its pipeline is TTX-MC138, a lead therapeutic compound currently undergoing preclinical evaluation for its potential in treating advanced, spreading cancers. Beyond its primary candidate, the company's preclinical portfolio also features TTX-siPDL1, an siRNA designed to modulate programmed death-ligand 1, and TTX-siLIN28B, another siRNA that inhibits the RNA-binding protein LIN28B. TransCode also pursues several cancer-agnostic initiatives. These encompass TTX-RIGA, an RNA-based agent engineered to stimulate the RIG-I immune pathway within the tumor's immediate surroundings; TTX-CRISPR, a gene-editing platform utilizing CRISPR/Cas9 technology to correct or eradicate oncogenic genes within cancer cells; and TTX-mRNA, an innovative mRNA platform dedicated to creating cancer vaccines that incite powerful cytotoxic immune reactions against malignant cells. Established in 2016, TransCode Therapeutics is headquartered in Boston, Massachusetts.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD8.70 +0.12 (+1.34%)
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Volume Profile
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Liquidity & share structure
Average Volume
54.4K
Beta
1.29
Float Shares
833.7K
Free Float %
90.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.78% -7.30% -25.00% -23.79% -29.86% -3.37% -1.49% -100.00% -100.00% -100.00% -100.00%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (1 ratings, all time) Buy
Price Targets & DCF
Current price
8.70
DCF (Unlevered) 30.08 +245.9%
DCF (Levered) 25.83 +197.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2025-07 Change
Strong Buy 1 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
0.09
Distress
Piotroski F-Score
1 / 9
Weak
MOAT Score
3 / 10
No MOAT
Composite Rating
B-
Overall Score
2 / 5
Medium
DCF Score
5 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
5 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Biotechnology: +1.6%
  • EPS growth Biotechnology: +29.7%
    -11.6% Q1'26: -30,174.6% (vs Q1'25)
  • FCF margin FCF growth · Biotechnology: +16.2%
  • EBIT margin Biotechnology: +0.0%
  • ROIC Biotechnology: -16.1%
    Q1'26: +0.2% (vs Q1'25)
  • Share dilution Biotechnology: -3.4%
    +93.7% Q1'26: +432.3% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Biotechnology: 0.16×
    0.00× Q1'26: 0.00× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.40) × ERP
WACC = 100% × Ke + 0% × Kd (4.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 30.08 Current price: 8.70
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
est: 300.0K (-100.0%)
est: 1.00M (-100.0%)
500.0K
500.0K – 500.0K
-50.0% YoY
9.70M
9.70M – 9.70M
+1,840.0% YoY
9.90M
9.90M – 9.90M
+2.1% YoY
27.80M
27.80M – 27.80M
+180.8% YoY
EBITDA
-16.19M
-34.31M
— – —
— – —
— – —
— – —
EBIT
-16.73M
-34.43M
— – —
— – —
— – —
— – —
Net Income
-16.75M
est: -3.03B (+99.4%)
-34.66M
est: -31.48M (-10.1%)
-6.18M
-6.18M – -6.18M
+80.4% YoY
-4.63M
-4.63M – -4.63M
+25.0% YoY
-3.86M
-3.86M – -3.86M
+16.7% YoY
-3.48M
-3.48M – -3.48M
+10.0% YoY
SGA
5.51M
5.77M
— – —
— – —
— – —
— – —
EPS
-47.14
est: -4,398.24 (+98.9%)
-52.59
est: -45.64 (-15.2%)
-8.96
-8.96 – -8.96
+80.4% YoY
-6.72
-6.72 – -6.72
+25.0% YoY
-5.60
-5.60 – -5.60
+16.7% YoY
-5.04
-5.04 – -5.04
+10.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-15 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-14 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-13 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-12 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-11 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-08 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-07 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-06 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-05 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-04 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-05-01 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-30 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-29 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-28 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-27 C+ 2/5 4/5 1/5 1/5 1/5 1/5 5/5
2026-04-24 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-23 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5
2026-04-22 C+ 2/5 4/5 1/5 1/5 1/5 1/5 5/5
2026-04-21 C+ 2/5 4/5 1/5 1/5 1/5 1/5 5/5
2026-04-20 C+ 2/5 4/5 1/5 1/5 1/5 1/5 5/5
2026-04-17 C+ 2/5 4/5 1/5 1/5 1/5 1/5 5/5
2026-04-16 B- 2/5 5/5 1/5 1/5 1/5 1/5 5/5

Owner Earnings

Owner's Earnings (history)

Owner's Earnings history not available.

Owner alignment
Owner's Earnings TTM
OE per share TTM
Owner's Yield
Maintenance CapEx ratio
Maint CapEx / Avg PPE

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
5
Total invested
154.0K
Insider transactions (90d)
0
Beneficial owners (>5%)
11
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 Jeff Easton 2.50M 9.90% 2.50M 2.50M IN Delaware 2023-12-07
2 Lind Global Fund II LP 2.50M 9.90% 2.50M 2.50M PN Delaware 2023-12-07
3 Lind Global Partners II LLC 2.50M 9.90% 2.50M 2.50M OO Delaware 2023-12-07
4 Robert Michael Dudley 1.76M 12.70% 1.76M 1.76M IN United States of America 2022-12-20
5 LP 1.72M 9.90% 1.72M 1.72M PN Delaware, United States 2024-07-26
6 Maier Joshua Tarlow 1.72M 9.90% 1.72M 1.72M IN Delaware, United States 2024-07-26
7 Management LLC 1.72M 9.90% 1.72M 1.72M OO Delaware, United States 2024-07-26
8 Zdravka Medarova 1.62M 12.50% 1.62M 1.62M IN United States of America 2022-12-20
9 (. 1.27M 9.90% 1.27M 1.27M IN Maryland 2021-07-21
10 27-4413262 1.27M 9.90% 1.27M 1.27M OO Maryland 2021-07-21
11 Thomas A. Fitzgerald 422.0K 5.50% 422.0K 422.0K IN United States of America 2024-06-21

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
5
+0 vs prev Q
New positions
3
Closed positions
3
Increased
5
Reduced
0
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 GEODE CAPITAL MANAGEMENT, LLC 12.7K +12.7K (+100.0%) 109.7K +109.7K (+100.0%) 1.39% +1.389 pp 0.00% +0.000 pp USD8.61 +0.0% 1 qtrs NEW
2 UBS GROUP AG 8.3K +5.3K (+179.9%) 71.4K +51.2K (+252.8%) 0.90% +0.475 pp 0.00% +0.000 pp USD7.97 +8.0% 4 qtrs
3 6.5K +6.5K (+100.0%) 56.4K +56.4K (+100.0%) 0.71% +0.714 pp 0.00% +0.000 pp USD8.61 +0.0% 1 qtrs NEW
4 VANGUARD FIDUCIARY TRUST CO 3.0K +3.0K (+100.0%) 25.7K +25.7K (+100.0%) 0.33% +0.325 pp 0.00% +0.000 pp USD8.61 +0.0% 1 qtrs NEW
5 TOWER RESEARCH CAPITAL LLC (TRC) 228.00 -659.0 (-74.3%) 2.0K -4.1K (-67.6%) 0.02% -0.104 pp 0.00% 0.000 pp USD6.98 +23.4% 4 qtrs
6 WELLS FARGO & COMPANY/MN 55.00 +55.0 (+100.0%) 474.00 +474.0 (+100.0%) 0.01% +0.006 pp 0.00% +0.000 pp USD8.60 +0.1% 1 qtrs NEW
7 SBI SECURITIES CO., LTD. 12.00 +2.0 (+20.0%) 103.00 +35.0 (+51.5%) 0.00% 0.000 pp 0.00% +0.000 pp USD7.92 +8.7% 4 qtrs
8 ADVISOR GROUP HOLDINGS, INC. -3.0 (-100.0%) -20.0 (-100.0%) 0.00% 0.000 pp 0.00% +0.000 pp USD 4 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 2 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard Extended Market ETF VXF 0.00% 32.9K 0.05%
2 Vanguard Extended Market ETF VXF 0.00% 1.0K 0.05%

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
12
Sells
0
Shares acquired
1.26M
Shares disposed
Cash buys
4.00
Cash sales
Net activity
+1,255,107
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2025-12-19 STOVER JACK E Director 0 0.00 0
2025-10-06 CZEREPAK ELIZABETH Director 0 0.00 0
2024-06-14 Marquet Magda Director A-Award A Stock Option (right to buy) 70,000 1.20 84.0K 70,000
2024-06-14 Manting Erik Director A-Award A Stock Option (right to buy) 70,000 1.20 84.0K 70,000
2024-06-14 Fitzgerald Thomas A Director / Officer A-Award A Stock Option (right to buy) 650,000 1.20 780.0K 650,000
2024-06-14 Calais Philippe Director A-Award A Stock Option (right to buy) 70,000 1.20 84.0K 70,000
2023-09-28 Fitzgerald Thomas A Director / Officer P-Purchase A Common Stock 49,350 0.51 25.2K 56,318
2023-09-28 Dudley Robert Michael Director / Officer P-Purchase A Common Stock 98,000 0.51 50.0K 180,262
2023-06-21 Dudley Robert Michael Director / Officer P-Purchase A Common Stock 12,000 2.65 31.8K 82,262
2023-06-20 Dudley Robert Michael Director / Officer P-Purchase A Common Stock 6,607 2.55 16.8K 70,262
2023-06-09 Dudley Robert Michael Director / Officer P-Purchase A Common Stock 19,000 2.76 52.4K 61,155
2023-05-19 Marquet Magda Director A-Award A Stock Option (right to buy) 45,000 0.28 12.8K 45,000
2023-05-19 Manting Erik Director A-Award A Stock Option (right to buy) 45,000 0.28 12.8K 45,000
2023-05-19 Fitzgerald Thomas A Director / Officer A-Award A Stock Option (right to buy) 300,000 0.28 85.0K 300,000
2023-05-19 Dudley Robert Michael Director / Officer A-Award A Stock Option (right to buy) 735,000 0.28 208.3K 735,000
2023-05-19 Calais Philippe Director A-Award A Stock Option (right to buy) 45,000 0.28 12.8K 45,000
2023-05-10 Marquet Magda Director A-Award A Stock Option (Right to Buy) 9,500 0.30 2.8K 9,500
2023-05-10 Manting Erik Director A-Award A Stock Option (Right to Buy) 9,500 0.30 2.8K 9,500
2023-05-10 Calais Philippe Director A-Award A Stock Option (Right to Buy) 9,500 0.30 2.8K 9,500
2022-12-12 Medarova Zdravka Officer A-Award A Stock Option (Right to Buy) 60,000 0.00 60,000
2022-12-12 Fitzgerald Thomas A Officer A-Award A Stock Option (Right to Buy) 100,000 0.00 100,000
2022-12-12 Dudley Robert Michael Officer A-Award A Stock Option (Right to Buy) 135,000 0.00 135,000
2022-09-14 Dudley Robert Michael Director / Officer / 10% Owner P-Purchase A Common Stock 20,000 1.15 23.0K 893,114
2022-06-22 Marquet Magda Director A-Award A Stock Option (Right to Buy) 9,500 1.24 11.8K 9,500
2022-06-22 Manting Erik Director A-Award A Stock Option (Right to Buy) 9,500 0.00 9,500
2022-06-22 Calais Philippe Director A-Award A Stock Option (Right to Buy) 9,500 0.00 9,500
2022-06-16 Fitzgerald Thomas A Officer P-Purchase A Common Stock 12,000 1.27 15.2K 139,377
2022-05-27 Dudley Robert Michael Officer P-Purchase A Common Stock 28,000 1.84 51.6K 871,114
2022-03-01 Fitzgerald Thomas A Officer A-Award A Stock Option (Right to Buy) 52,000 0.00 52,000
2022-02-01 Medarova Zdravka Officer A-Award A Stock Option (Right to Buy) 33,000 0.00 33,000
2022-02-01 Fitzgerald Thomas A Director / Officer A-Award A Stock Option (Right to Buy) 33,000 2.45 80.9K 33,000
2022-02-01 Dudley Robert Michael Director / Officer / 10% Owner A-Award A Stock Option (Right to Buy) 135,000 2.45 330.8K 135,000
2021-07-08 Marquet Magda Director D Stock Option (Right to Buy) 36,393 3.91 142.2K 0
2021-07-08 Manting Erik Director D Stock Option (Right to Buy) 36,393 3.91 142.2K 0
2021-07-08 Fitzgerald Thomas A Director / Officer D Stock Option (Right to Buy) 242,622 0.08 19.9K 0
2021-07-08 Dudley Robert Michael Director / Officer / 10% Owner D Stock Option (Right to Buy) 818,852 0.09 74.5K 0
2021-07-08 Calais Philippe Director D Common Stock 0 0.00 127,377

Executive team

Top executives
Shares Outstanding
917.0K

Executive compensation

Executive compensation (annual)
# Year Executive Salary Bonus Stock award Option award Incentive Other Total % Stock-
based
Filing
1 2024 Thomas A. Fitzgerald Interim Chief Executive Officer, Vice President and Chief Financial Officer 255.1K 701.9K 957.0K 73.35%
2 2024 Robert Michael Dudley Former Chief Executive Officer 85.4K 85.4K 0.00%
3 2023 Robert Michael Dudley Former Chief Executive Officer 474.4K 168.4K 642.8K 26.20%
4 2023 Thomas A. Fitzgerald Interim Chief Executive Officer, Vice President and Chief Financial Officer 358.1K 68.7K 426.9K 16.10%
5 2022 Robert Michael Dudley Former Chief Executive Officer 494.0K 311.0K 805.0K 38.64%
6 2022 Robert Michael Dudley Chief Executive Officer 494.0K 311.0K 805.0K 38.64%
7 2022 Thomas A. Fitzgerald Interim Chief Executive Officer, Vice President and Chief Financial Officer 371.0K 189.7K 560.7K 33.83%
8 2022 Thomas A. Fitzgerald Vice President and Chief Financial Officer 371.0K 189.7K 560.7K 33.83%
9 2021 Robert Michael Dudley Chief Executive Officer 240.0K 255.5K 495.5K 0.00%
10 2021 Thomas A. Fitzgerald Vice President and Chief Financial Officer 180.0K 137.6K 317.6K 0.00%
11 2020 Robert Michael Dudley Chief Executive Officer 43.0K 43.0K 100.00%
12 2020 Thomas A. Fitzgerald Vice President and Chief Financial Officer 15.4K 15.4K 100.00%
CEO compensation breakdown

Proxy statements

Proxy statements (DEF 14A)
Filing date Form type Filing
2026-05-08 PRE 14A
2026-04-07 DEFA14A
2026-03-03 DEFA14A
2025-12-23 DEFA14A
2025-10-27 DEFA14A
2025-10-17 DEFA14A
2025-10-08 DEFA14A
2025-10-08 DEFA14A
2025-07-15 DEF 14A
2025-04-21 DEFA14A
2025-04-16 DEFA14A
2025-04-11 DEF 14A
2025-04-02 PRE 14A
2025-02-04 DEFA14A
2024-12-30 DEF 14A
2024-12-19 PRE 14A
2024-11-13 DEFA14A
2024-11-06 DEFA14A
2024-10-28 DEF 14A
2024-10-15 PRE 14A

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-15 10-Q
2026-05-08 PRE 14A
2026-04-30 S-3
2026-04-30 10-K/A
2026-04-20 SC 13G
2026-04-15 10-K
2026-04-07 DEFA14A
2026-04-07 8-K
2026-03-31 NT 10-K
2026-03-03 DEFA14A

Executive team

NameTitleCompensationGender
Thomas A. Fitzgerald Chief Financial Officer, President, Vice President of Administration & Director 1M male
Philippe Calais Chief Executive Officer & Executive Chairman of the Board 566.1K
Anna Moore Scientific Co-Founder, Scientific Advisor & Chair of Scientific Advisory Board
Daniel R. Vlock Chief Medical Officer
Susan Duggan Senior Vice President of Operations female
Zdravka Medarova Scientific Co-Founder & Chief Scientific Officer
ESG Rating
B-
BIOTECHNOLOGY
Rank: 640 out of 662
2026
E (Environmental)
59.5 / 56.3
Company / Sector avg.
S (Social)
71.0 / 62.4
Company / Sector avg.
G (Governance)
68.7 / 60.9
Company / Sector avg.
ESG Total
66.4 / 59.9
Company / Sector avg.
ESG Score History BIOTECHNOLOGY
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits