Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Buys $222,601.54 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bros. Advisors Lp Baker acquired 30,874 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $7.21 per share, with a total value of $222,601.54. Following the completion of the transaction, the insider owned 4,529,969 shares in the company, valued at $32,661,076.49. The trade was a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Wednesday, November 12th, Bros. Advisors Lp Baker bought 100,736 shares of Entrada Therapeutics stock. The shares were bought at an average cost of $7.76 per share, for a total transaction of $781,711.36.
• On Tuesday, November 11th, Bros. Advisors Lp Baker acquired 46,434 shares of Entrada Therapeutics stock. The shares were purchased at an average price of $7.50 per share, for a total transaction of $348,255.00.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA traded up $0.31 during midday trading on Wednesday, hitting $8.01. 321,176 shares of the stock were exchanged, compared to its average volume of 183,210. The business’s 50-day moving average price is $6.05 and its 200 day moving average price is $6.67. Entrada Therapeutics, Inc. has a 12 month low of $4.93 and a 12 month high of $21.79. The stock has a market capitalization of $306.14 million, a price-to-earnings ratio of -3.22 and a beta of -0.08.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.02). The company had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. As a group, sell-side analysts expect that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Entrada Therapeutics

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Entrada Therapeutics by 28.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 86,310 shares of the company’s stock valued at $780,000 after purchasing an additional 18,926 shares during the period. Mackenzie Financial Corp boosted its stake in Entrada Therapeutics by 26.9% during the first quarter. Mackenzie Financial Corp now owns 18,396 shares of the company’s stock valued at $166,000 after buying an additional 3,896 shares during the period. Invesco Ltd. raised its holdings in shares of Entrada Therapeutics by 45.1% in the 1st quarter. Invesco Ltd. now owns 16,691 shares of the company’s stock valued at $151,000 after acquiring an additional 5,187 shares in the last quarter. Nuveen LLC purchased a new stake in Entrada Therapeutics in the first quarter valued at approximately $606,000. Finally, American Century Companies Inc. increased its holdings in shares of Entrada Therapeutics by 13.5% in the 1st quarter. American Century Companies Inc. now owns 67,793 shares of the company’s stock worth $613,000 after buying an additional 8,083 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRDA shares. Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Entrada Therapeutics in a report on Wednesday, October 8th. Finally, Roth Capital set a $13.00 target price on Entrada Therapeutics in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.