Barclays PLC Buys 30,585 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Barclays PLC grew its stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 210.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,110 shares of the company’s stock after acquiring an additional 30,585 shares during the quarter. Barclays PLC owned 0.12% of Entrada Therapeutics worth $720,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in Entrada Therapeutics by 8.8% during the third quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock valued at $9,214,000 after purchasing an additional 46,512 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Entrada Therapeutics during the third quarter worth $542,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Entrada Therapeutics by 132.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock valued at $2,215,000 after buying an additional 78,953 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Entrada Therapeutics by 34.7% in 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, Massachusetts Financial Services Co. MA acquired a new stake in Entrada Therapeutics during the 3rd quarter worth $1,109,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Natarajan Sethuraman sold 2,700 shares of Entrada Therapeutics stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $20.04, for a total value of $54,108.00. Following the sale, the insider now owns 160,888 shares of the company’s stock, valued at approximately $3,224,195.52. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total value of $476,359.95. Following the completion of the sale, the insider now directly owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,681 shares of company stock worth $851,199. 7.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on TRDA shares. Oppenheimer boosted their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Roth Capital upgraded Entrada Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th. HC Wainwright increased their target price on Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Roth Mkm initiated coverage on shares of Entrada Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $29.00 price target on the stock.

Entrada Therapeutics Price Performance

TRDA opened at $12.25 on Thursday. The company has a market capitalization of $458.40 million, a price-to-earnings ratio of 7.70 and a beta of -0.12. The business’s 50-day moving average price is $18.16 and its two-hundred day moving average price is $16.86. Entrada Therapeutics, Inc. has a 1 year low of $11.35 and a 1 year high of $21.79.

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.