Entrada Therapeutics (NASDAQ:TRDA) Given Buy Rating at HC Wainwright

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 50.04% from the stock’s previous close.

TRDA has been the subject of several other research reports. Oppenheimer upped their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Roth Mkm began coverage on Entrada Therapeutics in a report on Thursday, December 5th. They set a “buy” rating and a $29.00 target price for the company. Finally, Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th.

Entrada Therapeutics Stock Down 0.8 %

NASDAQ:TRDA opened at $13.33 on Tuesday. Entrada Therapeutics has a 52 week low of $11.35 and a 52 week high of $21.79. The stock’s 50-day moving average price is $16.65 and its 200-day moving average price is $16.61. The stock has a market capitalization of $498.81 million, a PE ratio of 8.38 and a beta of -0.17.

Insider Transactions at Entrada Therapeutics

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $91,447,173.73. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natarajan Sethuraman sold 1,409 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.01, for a total value of $28,194.09. Following the completion of the transaction, the insider now owns 163,588 shares in the company, valued at $3,273,395.88. This 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 41,681 shares of company stock worth $851,199 in the last quarter. Company insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Entrada Therapeutics by 10.5% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Entrada Therapeutics by 132.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock valued at $2,215,000 after purchasing an additional 78,953 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Entrada Therapeutics during the 3rd quarter worth $1,109,000. Jacobs Levy Equity Management Inc. increased its holdings in Entrada Therapeutics by 50.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company’s stock worth $3,225,000 after purchasing an additional 67,559 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Entrada Therapeutics by 8.8% in the third quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock valued at $9,214,000 after acquiring an additional 46,512 shares in 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.