Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 7.6% – What’s Next?

by · The Markets Daily

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA – Get Free Report) were down 7.6% on Friday . The stock traded as low as $14.96 and last traded at $14.99. Approximately 31,912 shares traded hands during trading, a decline of 69% from the average daily volume of 102,003 shares. The stock had previously closed at $16.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a report on Thursday, December 5th. HC Wainwright upped their price target on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer lifted their price objective on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Roth Mkm started coverage on Entrada Therapeutics in a report on Thursday, December 5th. They set a “buy” rating and a $29.00 target price for the company.

Get Our Latest Analysis on Entrada Therapeutics

Entrada Therapeutics Price Performance

The business has a fifty day moving average of $18.50 and a 200 day moving average of $16.88. The stock has a market capitalization of $548.20 million, a price-to-earnings ratio of 9.21 and a beta of -0.12.

Insider Buying and Selling

In other news, CFO Kory James Wentworth sold 5,000 shares of Entrada Therapeutics stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer now directly owns 73,849 shares of the company’s stock, valued at approximately $1,476,980. The trade was a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Natarajan Sethuraman sold 1,409 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.01, for a total value of $28,194.09. Following the completion of the sale, the insider now owns 163,588 shares in the company, valued at $3,273,395.88. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,281 shares of company stock valued at $861,999. 7.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

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