Entrada Therapeutics’ (TRDA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research note issued to investors on Tuesday,Benzinga reports. HC Wainwright currently has a $20.00 target price on the stock.

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

Entrada Therapeutics Trading Down 3.6 %

NASDAQ:TRDA opened at $13.48 on Tuesday. Entrada Therapeutics has a 12-month low of $11.35 and a 12-month high of $21.79. The stock has a 50-day moving average price of $16.41 and a 200 day moving average price of $16.57. The stock has a market capitalization of $504.42 million, a P/E ratio of 8.48 and a beta of -0.17.

Insider Activity

In other news, CFO Kory James Wentworth sold 8,637 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $19.98, for a total value of $172,567.26. Following the completion of the sale, the chief financial officer now directly owns 73,849 shares of the company’s stock, valued at $1,475,503.02. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $476,359.95. Following the completion of the sale, the insider now directly owns 4,402,849 shares of the company’s stock, valued at $91,447,173.73. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $851,199 in the last ninety days. Insiders own 7.59% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE purchased a new stake in shares of Entrada Therapeutics in the third quarter worth approximately $42,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Entrada Therapeutics in the fourth quarter worth approximately $137,000. SG Americas Securities LLC purchased a new stake in shares of Entrada Therapeutics in the third quarter worth approximately $156,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Entrada Therapeutics by 34.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock worth $226,000 after buying an additional 3,644 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Entrada Therapeutics by 89.1% in the third quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock worth $260,000 after buying an additional 7,659 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

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.