Allspring Global Investments Holdings LLC Has $394,000 Holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Allspring Global Investments Holdings LLC raised its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 87.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,631 shares of the company’s stock after purchasing an additional 12,868 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Entrada Therapeutics were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRDA. Vanguard Group Inc. lifted its position in shares of Entrada Therapeutics by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock worth $15,288,000 after purchasing an additional 13,742 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 14,838 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Entrada Therapeutics during the first quarter worth approximately $79,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Entrada Therapeutics during the first quarter worth approximately $27,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRDA. Oppenheimer reiterated an “outperform” rating and set a $25.00 target price on shares of Entrada Therapeutics in a research report on Monday, August 26th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 14th.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA opened at $14.80 on Friday. The company’s 50 day simple moving average is $16.00 and its 200 day simple moving average is $14.62. Entrada Therapeutics, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $18.17. The firm has a market capitalization of $499.63 million, a P/E ratio of 23.49 and a beta of -0.24.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.90. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. The business had revenue of $94.69 million for the quarter, compared to analyst estimates of $55.00 million. Sell-side analysts expect that Entrada Therapeutics, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,600 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.81, for a total value of $28,496.00. Following the sale, the chief executive officer now directly owns 334,475 shares in the company, valued at $5,956,999.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Dipal Doshi sold 1,600 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.81, for a total value of $28,496.00. Following the completion of the sale, the chief executive officer now owns 334,475 shares in the company, valued at approximately $5,956,999.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kory James Wentworth sold 1,758 shares of Entrada Therapeutics stock in a transaction dated Monday, July 8th. The stock was 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 in the company, valued at $1,217,109.40. The disclosure for this sale can be found here. Insiders have sold 5,896 shares of company stock worth $98,632 over the last ninety days. Company insiders own 7.58% of the company’s stock.

Entrada Therapeutics 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.