Massachusetts Financial Services Co. MA Makes New Investment in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Massachusetts Financial Services Co. MA acquired a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,394 shares of the company’s stock, valued at approximately $1,109,000. Massachusetts Financial Services Co. MA owned approximately 0.19% of Entrada Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Entrada Therapeutics during the 3rd quarter worth approximately $542,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Entrada Therapeutics by 132.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock worth $2,215,000 after purchasing an additional 78,953 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter valued at about $636,000. The Manufacturers Life Insurance Company boosted its holdings in 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 purchasing an additional 2,146 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 acquiring an additional 13,742 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Trading Up 2.4 %

Shares of TRDA stock opened at $19.83 on Thursday. The company has a market cap of $742.04 million, a PE ratio of 12.50 and a beta of -0.26. The company’s fifty day simple moving average is $17.26 and its 200-day simple moving average is $16.18. Entrada Therapeutics, Inc. has a 52 week low of $11.35 and a 52 week high of $20.49.

Insider Buying and Selling at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.97, for a total transaction of $47,829.15. Following the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction 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 trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,933 shares of company stock valued at $410,816 over the last three months. 7.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRDA. Oppenheimer upped their target price on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. HC Wainwright raised their price target on Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

About Entrada Therapeutics

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.