The Manufacturers Life Insurance Company Purchases 2,146 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

The Manufacturers Life Insurance Company grew its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,098 shares of the company’s stock after buying an additional 2,146 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of Entrada Therapeutics worth $814,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Entrada Therapeutics during the first quarter worth about $79,000. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 11,965 shares in the last quarter. Rhumbline Advisers lifted its stake 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 buying an additional 7,452 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $636,000. Finally, Marshall Wace LLP raised its holdings in shares of Entrada Therapeutics by 27.5% during the second quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock worth $940,000 after acquiring an additional 14,220 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Trading Up 6.1 %

NASDAQ TRDA opened at $16.78 on Monday. Entrada Therapeutics, Inc. has a 12 month low of $10.75 and a 12 month high of $18.17. The stock has a 50 day moving average of $15.68 and a 200-day moving average of $15.08. The company has a market cap of $624.22 million, a PE ratio of 5.67 and a beta of -0.25.

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

Insider Buying and Selling

In other news, COO Nathan J. Dowden sold 1,904 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.07, for a total value of $28,693.28. Following the completion of the sale, the chief operating officer now directly owns 125,996 shares of the company’s stock, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the completion of the sale, the chief operating officer now directly owns 125,996 shares in the company, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction on 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 sale, the insider now owns 183,816 shares of the company’s stock, valued at $2,773,783.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,587 shares of company stock worth $145,147. Company insiders own 7.59% of the company’s stock.

Analysts Set New Price Targets

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

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.