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

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 55.64% from the stock’s current price.

A number of other equities analysts also recently commented on TRDA. Roth Mkm assumed coverage on shares of Entrada Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $29.00 price objective for the company. Oppenheimer lifted their price objective on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th.

Entrada Therapeutics Trading Down 1.5 %

Entrada Therapeutics stock opened at $12.85 on Tuesday. The stock has a market capitalization of $480.85 million, a price-to-earnings ratio of 8.08 and a beta of -0.17. The stock has a 50 day moving average of $14.63 and a two-hundred day moving average of $16.30. Entrada Therapeutics has a twelve month low of $11.35 and a twelve month high of $21.79.

Insider Activity

In related news, CFO Kory James Wentworth sold 5,000 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer now directly owns 73,849 shares in the company, valued at $1,476,980. The trade was a 6.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the company’s stock in a transaction 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 owns 4,402,849 shares in the company, valued at $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,935 shares of company stock worth $596,330 in the last 90 days. 7.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of Entrada Therapeutics by 21.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company’s stock worth $36,011,000 after acquiring an additional 368,908 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Entrada Therapeutics by 19.7% in the 4th quarter. Vanguard Group Inc. now owns 1,464,237 shares of the company’s stock valued at $25,317,000 after purchasing an additional 241,052 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Entrada Therapeutics by 123.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 222,520 shares of the company’s stock valued at $3,847,000 after buying an additional 122,823 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Entrada Therapeutics by 127.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,006 shares of the company’s stock worth $3,752,000 after buying an additional 121,598 shares during the period. Finally, Federated Hermes Inc. increased its stake in Entrada Therapeutics by 3,104.3% during the fourth quarter. Federated Hermes Inc. now owns 99,814 shares of the company’s stock worth $1,726,000 after acquiring an additional 96,699 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

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.