Baker BROS. Advisors LP Raises Holdings in Entrada Therapeutics, Inc. $TRDA

Baker BROS. Advisors LP increased its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,072,730 shares of the company’s stock after acquiring an additional 206,911 shares during the period. Baker BROS. Advisors LP owned approximately 13.27% of Entrada Therapeutics worth $52,148,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TRDA. Millennium Management LLC grew its position in Entrada Therapeutics by 391.2% in the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after acquiring an additional 666,287 shares during the period. Citadel Advisors LLC grew its position in Entrada Therapeutics by 234.5% in the third quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock worth $1,947,000 after acquiring an additional 235,384 shares during the period. Qube Research & Technologies Ltd grew its position in Entrada Therapeutics by 115.3% in the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock worth $1,670,000 after acquiring an additional 154,143 shares during the period. BNP Paribas Financial Markets grew its position in Entrada Therapeutics by 4,767.4% in the third quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock worth $860,000 after acquiring an additional 145,167 shares during the period. Finally, Algert Global LLC purchased a new position in Entrada Therapeutics in the third quarter worth approximately $753,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $6.81 on Thursday. The firm has a market capitalization of $264.36 million, a PE ratio of -1.71 and a beta of -0.26. The firm’s 50-day moving average is $9.43 and its two-hundred day moving average is $10.63. Entrada Therapeutics, Inc. has a 1 year low of $4.93 and a 1 year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.11. The company had revenue of $0.88 million for the quarter, compared to analyst estimates of $2.92 million. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. Analysts expect that Entrada Therapeutics, Inc. will post -4.12 EPS for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $12.95, for a total transaction of $32,375.00. Following the sale, the chief financial officer directly owned 119,010 shares in the company, valued at $1,541,179.50. This represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernhardt G. Zeiher bought 5,000 shares of Entrada Therapeutics stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $5.86 per share, for a total transaction of $29,300.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $29,300. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 43,407 shares of company stock valued at $661,034 in the last quarter. Corporate insiders own 9.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TRDA shares. Guggenheim decreased their price objective on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Cantor Fitzgerald started coverage on shares of Entrada Therapeutics in a report on Wednesday, April 1st. They issued an “overweight” rating on the stock. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Roth Mkm set a $10.00 price objective on shares of Entrada Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Entrada Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Entrada Therapeutics has an average rating of “Hold” and an average price target of $17.50.

Entrada Therapeutics Company 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.