Entrada Therapeutics (NASDAQ:TRDA) Sees Large Volume Increase

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares saw strong trading volume on Thursday . 89,133 shares changed hands during trading, an increase of 0% from the previous session’s volume of 88,924 shares.The stock last traded at $16.51 and had previously closed at $16.47.

Analyst Ratings Changes

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

Entrada Therapeutics Stock Performance

The company has a market capitalization of $540.16 million, a price-to-earnings ratio of 26.14 and a beta of -0.25. The firm has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $14.45.

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

Insider Buying and Selling

In other news, CEO Dipal Doshi sold 1,600 shares of Entrada Therapeutics stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.81, for a total transaction of $28,496.00. Following the completion of the sale, the chief executive officer now directly owns 334,475 shares of the company’s stock, valued at approximately $5,956,999.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,600 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.81, for a total transaction of $28,496.00. Following the transaction, the chief executive officer now owns 334,475 shares of the company’s stock, valued at $5,956,999.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natarajan Sethuraman sold 9,675 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.19, for a total value of $146,963.25. Following the completion of the sale, the insider now directly owns 190,052 shares of the company’s stock, valued at $2,886,889.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,371 shares of company stock worth $287,595. Company insiders own 7.58% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TRDA. Vanguard Group Inc. increased its stake 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 buying an additional 13,742 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Entrada Therapeutics by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock worth $1,787,000 after acquiring an additional 14,838 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Entrada Therapeutics by 87.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 27,631 shares of the company’s stock worth $394,000 after purchasing an additional 12,868 shares in the last quarter. Strs Ohio boosted its holdings in Entrada Therapeutics by 792.6% in the 4th quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $363,000 after purchasing an additional 21,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its position 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 purchasing an additional 2,540 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.