Acadian Asset Management LLC Purchases 7,682 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Acadian Asset Management LLC grew its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 135.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,367 shares of the company’s stock after buying an additional 7,682 shares during the period. Acadian Asset Management LLC’s holdings in Entrada Therapeutics were worth $190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRDA. Allspring Global Investments Holdings LLC lifted its position in Entrada Therapeutics by 427.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after acquiring an additional 11,965 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Entrada Therapeutics during the first quarter worth $27,000. Vanguard Group Inc. lifted its holdings in shares of Entrada Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after purchasing an additional 13,742 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Entrada Therapeutics by 13.4% in the 2nd 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. Finally, Rhumbline Advisers grew its stake in Entrada Therapeutics by 25.3% during the 2nd quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after buying an additional 7,452 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Trading Down 2.1 %

NASDAQ TRDA opened at $14.68 on Friday. The stock has a market cap of $495.58 million, a P/E ratio of 23.30 and a beta of -0.24. Entrada Therapeutics, Inc. has a 12-month low of $10.75 and a 12-month high of $18.17. The company has a fifty day simple moving average of $15.91 and a two-hundred day simple moving average of $14.72.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.90. The company had revenue of $94.69 million during the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.09, for a total value of $39,867.78. Following the sale, the insider now owns 183,816 shares in the company, valued at $2,773,783.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now directly owns 125,996 shares of the company’s stock, valued at approximately $1,898,759.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total value of $39,867.78. Following the completion of the transaction, the insider now directly owns 183,816 shares of the company’s stock, valued at approximately $2,773,783.44. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock valued at $214,057 over the last quarter. 7.58% of the stock is currently owned by company insiders.

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.