Entrada Therapeutics (NASDAQ:TRDA) Shares Down 3.6%

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

Wall Street Analyst Weigh In

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

Entrada Therapeutics Trading Down 1.3 %

The stock has a 50 day simple moving average of $14.99 and a 200-day simple moving average of $14.33. The firm 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 announced 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. The business had revenue of $59.12 million during the quarter, compared to analysts’ expectations of $25.00 million. Entrada Therapeutics had a net margin of 14.42% and a return on equity of 9.73%. As a group, sell-side analysts expect that Entrada Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kory James Wentworth sold 1,758 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.95, for a total transaction of $26,282.10. Following the sale, the chief financial officer now owns 81,412 shares of the company’s stock, valued at approximately $1,217,109.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Peter S. Kim acquired 2,276 shares of Entrada Therapeutics stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $14.04 per share, with a total value of $31,955.04. Following the transaction, the director now directly owns 65,212 shares of the company’s stock, valued at approximately $915,576.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kory James Wentworth sold 1,758 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $14.95, for a total value of $26,282.10. Following the transaction, the chief financial officer now owns 81,412 shares of the company’s stock, valued at approximately $1,217,109.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,233 shares of company stock valued at $231,415. 7.58% of the stock is owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio grew 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 worth $363,000 after purchasing an additional 21,400 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Entrada Therapeutics by 27.7% during the fourth 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 period. Wellington Management Group LLP raised its stake in shares of Entrada Therapeutics by 2.6% during the third quarter. Wellington Management Group LLP now owns 1,045,652 shares of the company’s stock valued at $16,521,000 after acquiring an additional 26,144 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Entrada Therapeutics by 476.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the company’s stock valued at $87,000 after purchasing an additional 4,777 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Entrada Therapeutics by 427.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after purchasing an additional 11,965 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.