Roth Mkm Initiates Coverage on Entrada Therapeutics (NASDAQ:TRDA)

Analysts at Roth Mkm assumed coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $29.00 price target on the stock. Roth Mkm’s target price would indicate a potential upside of 34.32% from the company’s current price.

A number of other brokerages have also commented on TRDA. Oppenheimer raised their price target on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. HC Wainwright upped their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $21.59 on Thursday. The business has a 50-day moving average of $18.09 and a 200 day moving average of $16.47. Entrada Therapeutics has a 1-year low of $11.35 and a 1-year high of $21.63. The stock has a market capitalization of $807.90 million, a PE ratio of 13.58 and a beta of -0.18.

Insider Buying and Selling at Entrada Therapeutics

In other news, insider Natarajan Sethuraman sold 2,700 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $20.04, for a total transaction of $54,108.00. Following the completion of the sale, the insider now owns 160,888 shares of the company’s stock, valued at $3,224,195.52. The trade was a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Nathan J. Dowden sold 1,904 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.07, for a total value of $28,693.28. Following the completion of the transaction, the chief operating officer now directly owns 125,996 shares in the company, valued at $1,898,759.72. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,934 shares of company stock worth $515,582. Company insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TRDA. US Bancorp DE bought a new stake in Entrada Therapeutics in the third quarter worth $42,000. SG Americas Securities LLC bought a new stake in shares of Entrada Therapeutics in the 3rd quarter worth about $156,000. Acadian Asset Management LLC increased its holdings in shares of Entrada Therapeutics by 135.1% in the 2nd quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock worth $190,000 after buying an additional 7,682 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Entrada Therapeutics by 34.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock valued at $226,000 after buying an additional 3,644 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Entrada Therapeutics by 89.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock valued at $260,000 after acquiring an additional 7,659 shares during the last quarter. 86.39% of the stock is currently owned by 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.