Bank of New York Mellon Corp Lowers Stock Position in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Bank of New York Mellon Corp decreased its holdings in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,358 shares of the company’s stock after selling 3,609 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of Entrada Therapeutics worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TRDA. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 worth $2,215,000 after buying an additional 78,953 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at about $1,109,000. Charles Schwab Investment Management Inc. raised its stake in shares of Entrada Therapeutics by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,984 shares of the company’s stock valued at $2,972,000 after purchasing an additional 23,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 purchasing an additional 3,644 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Entrada Therapeutics by 36.9% in the 3rd quarter. Martingale Asset Management L P now owns 37,923 shares of the company’s stock valued at $606,000 after purchasing an additional 10,226 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Trading Up 0.8 %

Shares of NASDAQ:TRDA opened at $10.49 on Friday. The firm’s 50 day moving average is $12.25 and its two-hundred day moving average is $15.60. Entrada Therapeutics, Inc. has a 52 week low of $10.15 and a 52 week high of $21.79. The firm has a market capitalization of $394.37 million, a P/E ratio of 6.60 and a beta of -0.14.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.69. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. The business had revenue of $12.25 million for the quarter, compared to analyst estimates of $11.95 million. Analysts predict that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRDA shares. Roth Mkm assumed coverage on shares of Entrada Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research report on Tuesday, February 25th. Finally, Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th.

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.