Entrada Therapeutics (NASDAQ:TRDA) Trading Down 3.6%

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price dropped 3.6% during mid-day trading on Friday . The stock traded as low as $16.72 and last traded at $16.74. Approximately 85,604 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 84,823 shares. The stock had previously closed at $17.37.

Analyst Ratings Changes

Separately, HC Wainwright cut their target price on shares of Entrada Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th.

Entrada Therapeutics Price Performance

The firm has a 50 day moving average of $14.99 and a 200-day moving average of $14.33. The stock has a market capitalization of $578.97 million, a P/E ratio of 27.38 and a beta of -0.25.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $1.06. Entrada Therapeutics had a return on equity of 9.73% and a net margin of 14.42%. The business had revenue of $59.12 million during the quarter, compared to analyst estimates of $25.00 million. As a group, equities analysts expect that Entrada Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 1,758 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the completion of the transaction, the chief financial officer now owns 81,412 shares in the company, valued at $1,217,109.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Natarajan Sethuraman sold 9,675 shares of Entrada Therapeutics stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.19, for a total transaction of $146,963.25. Following the completion of the transaction, the insider now directly owns 190,052 shares of the company’s stock, valued at approximately $2,886,889.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kory James Wentworth sold 1,758 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the completion of the transaction, the chief financial officer now owns 81,412 shares in the company, valued at $1,217,109.40. The disclosure for this sale can be found here. Insiders have sold a total of 15,233 shares of company stock valued at $231,415 over the last quarter. 7.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Entrada Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after purchasing an additional 13,742 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Entrada Therapeutics by 2.6% in the third quarter. Wellington Management Group LLP now owns 1,045,652 shares of the company’s stock valued at $16,521,000 after buying an additional 26,144 shares in the last quarter. Strs Ohio raised its holdings in shares of Entrada Therapeutics by 792.6% in the fourth quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $363,000 after buying an additional 21,400 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after buying an additional 11,965 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Entrada Therapeutics by 27.7% during the 4th quarter. SG Americas Securities LLC now owns 11,714 shares of the company’s stock worth $177,000 after acquiring an additional 2,540 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

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.