Acadian Asset Management LLC Buys 7,682 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Acadian Asset Management LLC increased its stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 135.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,367 shares of the company’s stock after buying an additional 7,682 shares during the quarter. Acadian Asset Management LLC’s holdings in Entrada Therapeutics were worth $190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Entrada Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock worth $15,288,000 after acquiring an additional 13,742 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Entrada Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock valued at $1,787,000 after purchasing an additional 14,838 shares during the last quarter. Rhumbline Advisers raised its position in Entrada Therapeutics by 25.3% in the 2nd quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after purchasing an additional 7,452 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Entrada Therapeutics by 87.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 27,631 shares of the company’s stock worth $394,000 after purchasing an additional 12,868 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Entrada Therapeutics during the first quarter valued at approximately $27,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRDA. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 14th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 target price on shares of Entrada Therapeutics in a research note on Monday, August 26th.

Entrada Therapeutics Price Performance

Shares of TRDA opened at $14.68 on Friday. The firm has a market capitalization of $495.58 million, a price-to-earnings ratio of 23.30 and a beta of -0.24. Entrada Therapeutics, Inc. has a 1-year low of $10.75 and a 1-year high of $18.17. The company has a 50-day moving average of $15.91 and a 200 day moving average of $14.72.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.90. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. The firm had revenue of $94.69 million during the quarter, compared to the consensus estimate of $55.00 million. On average, equities analysts anticipate that Entrada Therapeutics, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 1,758 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.95, for a total transaction of $26,282.10. Following the transaction, the chief financial officer now owns 81,412 shares of the company’s stock, valued at approximately $1,217,109.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Natarajan Sethuraman sold 2,642 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now directly owns 183,816 shares of the company’s stock, valued at $2,773,783.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kory James Wentworth sold 1,758 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.95, for a total transaction of $26,282.10. Following the completion of the transaction, the chief financial officer now directly owns 81,412 shares of the company’s stock, valued at approximately $1,217,109.40. The disclosure for this sale can be found here. Insiders sold a total of 13,636 shares of company stock valued at $214,057 in the last ninety days. Corporate insiders own 7.58% of the company’s stock.

Entrada Therapeutics Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.