HC Wainwright Reiterates Buy Rating for Entrada Therapeutics (NASDAQ:TRDA)

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 66.39% from the stock’s previous close.

A number of other research firms also recently issued reports on TRDA. Roth Mkm initiated coverage on shares of Entrada Therapeutics in a report on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price for the company. Oppenheimer boosted their price objective on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th.

Entrada Therapeutics Trading Down 0.8 %

Shares of NASDAQ:TRDA opened at $12.02 on Tuesday. The firm has a market cap of $449.79 million, a price-to-earnings ratio of 7.56 and a beta of -0.17. The stock’s 50-day moving average price is $14.51 and its two-hundred day moving average price is $16.29. Entrada Therapeutics has a 12-month low of $11.35 and a 12-month high of $21.79.

Insider Buying and Selling

In other Entrada Therapeutics news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the transaction, the insider now directly owns 4,402,849 shares of the company’s stock, valued at $91,447,173.73. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kory James Wentworth sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the chief financial officer now owns 73,849 shares in the company, valued at approximately $1,476,980. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,935 shares of company stock valued at $596,330. 7.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Entrada Therapeutics by 6.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company’s stock worth $298,000 after purchasing an additional 1,000 shares in the last quarter. ExodusPoint Capital Management LP grew its holdings in Entrada Therapeutics by 7.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 16,453 shares of the company’s stock valued at $284,000 after purchasing an additional 1,113 shares in the last quarter. WCG Wealth Advisors LLC increased its stake in Entrada Therapeutics by 6.2% during the 4th quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company’s stock worth $415,000 after buying an additional 1,406 shares during the period. Bank of America Corp DE lifted its holdings in Entrada Therapeutics by 4.9% in the 4th quarter. Bank of America Corp DE now owns 35,721 shares of the company’s stock worth $618,000 after buying an additional 1,660 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Entrada Therapeutics by 11.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,329 shares of the company’s stock valued at $282,000 after buying an additional 1,731 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company 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.