Entrada Therapeutics (NASDAQ:TRDA) Trading Down 7.6% – Here’s Why

Entrada Therapeutics, Inc. (NASDAQ:TRDA) fell 7.6% during trading on Friday . The company traded as low as $14.96 and last traded at $14.99. 31,912 shares traded hands during trading, a decline of 69% from the average session volume of 102,003 shares. The stock had previously closed at $16.22.

Analysts Set New Price Targets

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

Entrada Therapeutics Stock Performance

The business’s 50 day moving average is $18.56 and its 200-day moving average is $16.87. The stock has a market cap of $551.20 million, a price-to-earnings ratio of 9.26 and a beta of -0.12.

Insider Activity

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total transaction of $476,359.95. Following the completion of the sale, the insider now owns 4,402,849 shares of the company’s stock, valued at $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natarajan Sethuraman sold 1,409 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.01, for a total transaction of $28,194.09. Following the completion of the sale, the insider now owns 163,588 shares of the company’s stock, valued at $3,273,395.88. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,281 shares of company stock worth $861,999 over the last 90 days. 7.59% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently bought and sold shares of TRDA. Janus Henderson Group PLC boosted its holdings in shares of Entrada Therapeutics by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,711,459 shares of the company’s stock worth $27,358,000 after purchasing an additional 161,962 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Entrada Therapeutics by 132.4% during the third 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 during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Entrada Therapeutics in the 3rd quarter valued at $1,109,000. Jacobs Levy Equity Management Inc. grew its holdings in Entrada Therapeutics by 50.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company’s stock valued at $3,225,000 after buying an additional 67,559 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Entrada Therapeutics by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock worth $9,214,000 after acquiring an additional 46,512 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Entrada Therapeutics

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.