The Manufacturers Life Insurance Company Takes Position in Entrada Therapeutics, Inc. $TRDA

The Manufacturers Life Insurance Company acquired a new stake in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 72,520 shares of the company’s stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Baker BROS. Advisors LP increased its holdings in Entrada Therapeutics by 4.3% in the 4th quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock worth $52,148,000 after purchasing an additional 206,911 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Entrada Therapeutics during the second quarter valued at about $19,013,000. GSA Capital Partners LLP bought a new stake in shares of Entrada Therapeutics during the second quarter worth about $648,000. Deutsche Bank AG bought a new stake in shares of Entrada Therapeutics during the second quarter worth about $195,000. Finally, Ieq Capital LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $218,000. Institutional investors own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Wall Street Zen raised shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Roth Capital restated a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Finally, Guggenheim dropped their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Entrada Therapeutics Price Performance

TRDA opened at $7.13 on Monday. Entrada Therapeutics, Inc. has a twelve month low of $5.02 and a twelve month high of $16.45. The company has a fifty day moving average of $7.06 and a 200-day moving average of $9.18. The stock has a market cap of $277.64 million, a PE ratio of -1.80 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. Sell-side analysts anticipate that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the sale, the insider owned 2,848,310 shares in the company, valued at $19,738,788.30. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 44,259 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $6.99, for a total value of $309,370.41. Following the sale, the insider owned 4,231,434 shares in the company, valued at approximately $29,577,723.66. The trade was a 1.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 687,124 shares of company stock valued at $4,819,524 over the last 90 days. 9.49% of the stock is owned by company insiders.

Entrada Therapeutics Profile

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.