Entrada Therapeutics (NASDAQ:TRDA) Trading Up 6.7%

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares rose 6.7% during mid-day trading on Thursday . The company traded as high as $14.59 and last traded at $14.57. Approximately 14,262 shares traded hands during trading, a decline of 85% from the average daily volume of 97,645 shares. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

TRDA has been the topic of a number of research reports. Oppenheimer restated 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 reissued a “buy” rating and set a $18.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 14th.

Entrada Therapeutics Trading Up 12.4 %

The company has a market capitalization of $570.65 million, a price-to-earnings ratio of 23.13 and a beta of -0.24. The firm’s 50 day simple moving average is $16.00 and its 200-day simple moving average is $14.70.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $94.69 million during the quarter, compared to analysts’ expectations of $55.00 million. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity

In related news, COO Nathan J. Dowden sold 1,904 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.07, for a total transaction of $28,693.28. Following the transaction, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Nathan J. Dowden sold 1,904 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at $1,898,759.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kory James Wentworth sold 1,758 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the completion of the transaction, the chief financial officer now directly owns 81,412 shares of the company’s stock, valued at $1,217,109.40. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock valued at $214,057 in the last three months. 7.58% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

A number of institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in shares of Entrada Therapeutics during the 1st quarter worth $27,000. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics during the first quarter worth about $79,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Entrada Therapeutics by 427.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after purchasing an additional 11,965 shares in the last quarter. Rhumbline Advisers grew its position in shares of Entrada Therapeutics by 25.3% in the second quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock valued at $526,000 after purchasing an additional 7,452 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Entrada Therapeutics during the 2nd quarter worth approximately $636,000. 86.39% of the stock is currently 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.