Entrada Therapeutics, Inc. (NASDAQ:TRDA) Short Interest Down 19.1% in October

Entrada Therapeutics, Inc. (NASDAQ:TRDA) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a drop of 19.1% from the September 30th total of 2,040,000 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily trading volume, of 139,800 shares, the days-to-cover ratio is currently 11.8 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.97, for a total value of $47,829.15. Following the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at approximately $1,144,995.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,642 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now directly owns 183,816 shares in the company, valued at $2,773,783.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kory James Wentworth sold 3,195 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $14.97, for a total value of $47,829.15. Following the completion of the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,187 shares of company stock worth $155,947 over the last three months. 7.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Entrada Therapeutics by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock valued at $814,000 after acquiring an additional 2,146 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics during the first quarter valued at $79,000. Rhumbline Advisers boosted its holdings in 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. SG Americas Securities LLC acquired a new stake in Entrada Therapeutics during the 3rd quarter worth about $156,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after buying an additional 11,965 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Stock Up 0.9 %

TRDA opened at $16.99 on Monday. The company has a market cap of $573.57 million, a P/E ratio of 26.97 and a beta of -0.25. The firm’s 50-day moving average price is $16.14 and its 200-day moving average price is $15.34. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $18.17.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results 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. The business had revenue of $94.69 million for the quarter, compared to the consensus estimate of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. On average, research analysts anticipate that Entrada Therapeutics will post 0.68 EPS for the current fiscal year.

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.