AlphaQuest LLC Raises Stock Holdings in Entrada Therapeutics, Inc. $TRDA

AlphaQuest LLC increased its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 188.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,662 shares of the company’s stock after buying an additional 7,616 shares during the quarter. AlphaQuest LLC’s holdings in Entrada Therapeutics were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TRDA. BNP Paribas Financial Markets purchased a new position in shares of Entrada Therapeutics in the fourth quarter worth $57,000. State of Wyoming purchased a new position in shares of Entrada Therapeutics in the fourth quarter worth $104,000. Harbor Capital Advisors Inc. bought a new stake in Entrada Therapeutics in the first quarter valued at $121,000. Allspring Global Investments Holdings LLC increased its position in Entrada Therapeutics by 53.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,020 shares of the company’s stock valued at $149,000 after purchasing an additional 5,896 shares during the period. Finally, Invesco Ltd. increased its position in Entrada Therapeutics by 45.1% during the 1st quarter. Invesco Ltd. now owns 16,691 shares of the company’s stock valued at $151,000 after purchasing an additional 5,187 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a research report on Friday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Entrada Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.67.

Insider Transactions at Entrada Therapeutics

In other news, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the company’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total value of $52,012.50. Following the sale, the insider directly owned 1,093,313 shares of the company’s stock, valued at $8,199,847.50. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kush Parmar sold 27,000 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total transaction of $202,500.00. Following the completion of the sale, the director directly owned 1,093,313 shares in the company, valued at $8,199,847.50. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,000 shares of company stock worth $1,782,000 over the last ninety days. Insiders own 7.59% of the company’s stock.

Entrada Therapeutics Price Performance

NASDAQ:TRDA opened at $5.38 on Wednesday. The firm’s 50-day moving average price is $6.16 and its 200-day moving average price is $8.09. The company has a market capitalization of $204.66 million, a PE ratio of -3.02 and a beta of -0.13. Entrada Therapeutics, Inc. has a 1-year low of $4.93 and a 1-year high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Wednesday, August 6th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.18). The business had revenue of $1.98 million during the quarter, compared to analysts’ expectations of $8.17 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%. Equities analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Entrada Therapeutics 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.