Entrada Therapeutics (NASDAQ:TRDA) Shares Up 6.7%

Entrada Therapeutics, Inc. (NASDAQ:TRDA) was up 6.7% during mid-day trading on Thursday . The stock traded as high as $14.59 and last traded at $14.57. Approximately 14,262 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 97,645 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, August 14th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 price objective on shares of Entrada Therapeutics in a research note on Monday, August 26th.

Entrada Therapeutics Stock Performance

The company has a market capitalization of $495.58 million, a PE ratio of 23.30 and a beta of -0.24. The stock’s 50-day simple moving average is $15.91 and its 200 day simple moving average is $14.72.

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

Insider Transactions at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 1,758 shares of the company’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 value 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 $1,217,109.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 1,758 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the sale, the chief financial officer now owns 81,412 shares of the company’s stock, valued at $1,217,109.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dipal Doshi sold 1,600 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.81, for a total transaction of $28,496.00. Following the completion of the transaction, the chief executive officer now directly owns 334,475 shares in the company, valued at $5,956,999.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,636 shares of company stock valued at $214,057. Corporate insiders own 7.58% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Entrada Therapeutics by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after buying an additional 2,146 shares during the period. Marshall Wace LLP increased its holdings in shares of Entrada Therapeutics by 27.5% in the 2nd quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock valued at $940,000 after acquiring an additional 14,220 shares during the period. Renaissance Technologies LLC purchased a new stake in Entrada Therapeutics in the 2nd quarter valued at $636,000. American Century Companies Inc. boosted its stake in Entrada Therapeutics by 5.1% during the 2nd quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock worth $5,486,000 after purchasing an additional 18,625 shares during the period. Finally, Acadian Asset Management LLC grew its position in Entrada Therapeutics by 135.1% during the 2nd quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock worth $190,000 after purchasing an additional 7,682 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

About Entrada Therapeutics

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.