Entrada Therapeutics (NASDAQ:TRDA) Major Shareholder Acquires $348,255.00 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bros. Advisors Lp Baker acquired 46,434 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $348,255.00. Following the completion of the acquisition, the insider directly owned 4,572,549 shares of the company’s stock, valued at approximately $34,294,117.50. This trade represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 purchased at an average cost of $7.76 per share, with a total value of $781,711.36.
• On Monday, November 10th, Bros. Advisors Lp Baker purchased 30,874 shares of Entrada Therapeutics stock. The stock was acquired at an average price of $7.21 per share, for a total transaction of $222,601.54.

Entrada Therapeutics Trading Down 0.3%

TRDA opened at $8.75 on Friday. Entrada Therapeutics, Inc. has a 12-month low of $4.93 and a 12-month high of $21.79. The firm has a 50 day moving average of $6.24 and a two-hundred day moving average of $6.70. The firm has a market capitalization of $334.43 million, a PE ratio of -3.51 and a beta of -0.08.

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

Institutional Trading of Entrada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming lifted its position in shares of Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after buying an additional 4,295 shares in the last quarter. Russell Investments Group Ltd. raised its position in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after acquiring an additional 3,707 shares during the period. Occudo Quantitative Strategies LP purchased a new position in Entrada Therapeutics during the second quarter valued at $68,000. IHT Wealth Management LLC acquired a new stake in shares of Entrada Therapeutics in the second quarter valued at about $72,000. Finally, Trexquant Investment LP purchased a new stake in shares of Entrada Therapeutics during the first quarter worth about $101,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRDA has been the subject of several analyst reports. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a report on Wednesday, October 8th. Roth Capital set a $13.00 price objective on Entrada Therapeutics in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average 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.