Federated Hermes Inc. Raises Stock Position in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Federated Hermes Inc. increased its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) by 3,104.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,814 shares of the company's stock after buying an additional 96,699 shares during the quarter. Federated Hermes Inc. owned 0.27% of Entrada Therapeutics worth $1,726,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Entrada Therapeutics by 53,455.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock worth $83,000 after buying an additional 4,811 shares in the last quarter. Wells Fargo & Company MN raised its stake in Entrada Therapeutics by 29.5% during the 4th quarter. Wells Fargo & Company MN now owns 14,743 shares of the company's stock worth $255,000 after acquiring an additional 3,357 shares during the period. ExodusPoint Capital Management LP lifted its holdings in Entrada Therapeutics by 7.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,453 shares of the company's stock valued at $284,000 after purchasing an additional 1,113 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Entrada Therapeutics by 123.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 222,520 shares of the company's stock worth $3,847,000 after purchasing an additional 122,823 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Entrada Therapeutics by 228.1% in the fourth quarter. JPMorgan Chase & Co. now owns 35,470 shares of the company's stock worth $613,000 after purchasing an additional 24,658 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

Entrada Therapeutics Stock Performance

Shares of Entrada Therapeutics stock traded up $0.27 on Friday, hitting $8.13. 158,883 shares of the company traded hands, compared to its average volume of 123,930. The business has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $14.66. Entrada Therapeutics, Inc. has a 52 week low of $7.10 and a 52 week high of $21.79. The stock has a market capitalization of $305.65 million, a P/E ratio of 5.11 and a beta of 0.04.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.66) by $0.69. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. The business had revenue of $12.25 million for the quarter, compared to analysts' expectations of $11.95 million. Research analysts expect that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Entrada Therapeutics in a report on Monday, March 31st.

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.