Entrada Therapeutics, Inc. (NASDAQ:TRDA) Short Interest Update

by · The Cerbat Gem

Entrada Therapeutics, Inc. (NASDAQ:TRDA – Get Free Report) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 1,650,000 shares, a decline of 19.1% from the September 30th total of 2,040,000 shares. Approximately 7.6% of the company’s stock are short sold. Based on an average trading volume of 139,800 shares, the days-to-cover ratio is currently 11.8 days.

Entrada Therapeutics Trading Down 0.5 %

Entrada Therapeutics stock traded down $0.09 during mid-day trading on Tuesday, hitting $17.28. The company had a trading volume of 77,284 shares, compared to its average volume of 103,970. The company has a market capitalization of $642.82 million, a price-to-earnings ratio of 5.82 and a beta of -0.25. The company’s fifty day moving average is $16.16 and its 200-day moving average is $15.37. Entrada Therapeutics has a 12-month low of $10.75 and a 12-month high of $18.17.

Entrada Therapeutics (NASDAQ:TRDA – Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. The firm had revenue of $94.69 million for the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. As a group, sell-side analysts expect that Entrada Therapeutics will post 0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TRDA has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and issued a $25.00 target price on shares of Entrada Therapeutics in a research note on Monday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 14th.

View Our Latest Stock Analysis on Entrada Therapeutics

Insider Buying and Selling

In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,642 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.09, for a total value of $39,867.78. Following the completion of the sale, the insider now directly owns 183,816 shares in the company, valued at $2,773,783.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kory James Wentworth sold 3,195 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $14.97, for a total transaction of $47,829.15. Following the transaction, the chief financial officer now owns 76,486 shares in the company, valued at $1,144,995.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the completion of the transaction, the insider now directly owns 183,816 shares of the company’s stock, valued at $2,773,783.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,187 shares of company stock worth $155,947 in the last 90 days. 7.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. US Bancorp DE purchased a new stake in Entrada Therapeutics in the 3rd quarter worth $42,000. Acadian Asset Management LLC acquired a new stake in shares of Entrada Therapeutics in the first quarter valued at about $79,000. SG Americas Securities LLC purchased a new stake in shares of Entrada Therapeutics during the third quarter worth about $156,000. Allspring Global Investments Holdings LLC raised its position in shares of Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after purchasing an additional 11,965 shares during the last quarter. Finally, BayBridge Capital Group LLC purchased a new position in Entrada Therapeutics in the 3rd quarter valued at about $464,000. 86.39% of the stock is owned by institutional investors and hedge funds.

About Entrada Therapeutics

(Get Free Report)

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.

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