Entrada Therapeutics (NASDAQ:TRDA) Shares Down 7.6% – Here’s Why

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price traded down 7.6% on Friday . The stock traded as low as $14.96 and last traded at $14.99. 31,912 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 102,003 shares. The stock had previously closed at $16.22.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRDA. HC Wainwright raised their price objective on Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer lifted their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Roth Mkm began coverage on shares of Entrada Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th.

Entrada Therapeutics Stock Down 9.2 %

The business’s fifty day moving average is $18.56 and its two-hundred day moving average is $16.87. The stock has a market cap of $551.20 million, a price-to-earnings ratio of 9.26 and a beta of -0.12.

Insider Activity at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer now directly owns 73,849 shares in the company, valued at approximately $1,476,980. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total transaction of $476,359.95. Following the transaction, the insider now owns 4,402,849 shares of the company’s stock, valued at approximately $91,447,173.73. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,281 shares of company stock worth $861,999. Company insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Entrada Therapeutics by 210.6% in the third quarter. Barclays PLC now owns 45,110 shares of the company’s stock valued at $720,000 after purchasing an additional 30,585 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Entrada Therapeutics by 8.8% during the third quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock worth $9,214,000 after purchasing an additional 46,512 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Entrada Therapeutics by 89.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock valued at $260,000 after purchasing an additional 7,659 shares during the last quarter. XTX Topco Ltd purchased a new position in Entrada Therapeutics during the 3rd quarter worth approximately $634,000. Finally, State Street Corp lifted its stake in Entrada Therapeutics by 5.5% in the third quarter. State Street Corp now owns 469,601 shares of the company’s stock valued at $7,504,000 after buying an additional 24,385 shares during the last quarter. 86.39% of the stock is 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.