Entrada Therapeutics (NASDAQ:TRDA) Receives “Buy” Rating from HC Wainwright

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 50.04% from the company’s previous close.

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

Entrada Therapeutics Stock Down 0.8 %

NASDAQ:TRDA opened at $13.33 on Tuesday. The company has a market cap of $498.81 million, a P/E ratio of 8.38 and a beta of -0.17. Entrada Therapeutics has a twelve month low of $11.35 and a twelve month high of $21.79. The business has a 50 day moving average price of $16.65 and a two-hundred day moving average price of $16.61.

Insider Activity at Entrada Therapeutics

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total transaction of $476,359.95. Following the sale, the insider now owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natarajan Sethuraman sold 1,409 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.01, for a total value of $28,194.09. Following the transaction, the insider now owns 163,588 shares of the company’s stock, valued at $3,273,395.88. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,681 shares of company stock valued at $851,199. Insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Entrada Therapeutics by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock worth $9,214,000 after acquiring an additional 46,512 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Entrada Therapeutics during the 3rd quarter valued at about $542,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Entrada Therapeutics by 132.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock worth $2,215,000 after purchasing an additional 78,953 shares in the last quarter. Barclays PLC raised its holdings in shares of 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 acquiring an additional 30,585 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Entrada Therapeutics by 34.7% during 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 valued at $226,000 after buying an additional 3,644 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.