Entrada Therapeutics (NASDAQ:TRDA) Hits New 12-Month High - Here's What Happened

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $18.17 and last traded at $18.03, with a volume of 101296 shares traded. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

TRDA has been the topic of a number of recent analyst reports. Oppenheimer reissued an "outperform" rating and issued a $25.00 price objective on shares of Entrada Therapeutics in a research note on Monday, August 26th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, August 14th.

Entrada Therapeutics Stock Performance

The business's 50 day moving average is $16.24 and its two-hundred day moving average is $15.54. The firm has a market capitalization of $692.66 million, a PE ratio of 6.02 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced 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 company had revenue of $94.69 million during the quarter, compared to analysts' expectations of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. As a group, equities research analysts predict that Entrada Therapeutics, Inc. will post 0.68 EPS for the current year.

Insider Activity

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction that occurred 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 directly owns 76,486 shares in the company, valued at $1,144,995.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $14.97, for a total value of $47,829.15. Following the transaction, the chief financial officer now owns 76,486 shares in the company, valued at approximately $1,144,995.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief operating officer now directly owns 125,996 shares of the company's stock, valued at approximately $1,898,759.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,187 shares of company stock worth $155,947 over the last ninety days. Company insiders own 7.59% of the company's stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TRDA. US Bancorp DE bought a new position in Entrada Therapeutics in the third quarter worth approximately $42,000. Acadian Asset Management LLC bought a new position in shares of Entrada Therapeutics in the first quarter worth about $79,000. SG Americas Securities LLC bought a new position in shares of Entrada Therapeutics during the 3rd quarter valued at approximately $156,000. Allspring Global Investments Holdings LLC increased its stake in Entrada Therapeutics by 427.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company's stock worth $209,000 after buying an additional 11,965 shares in the last quarter. Finally, BayBridge Capital Group LLC bought a new stake in shares of Entrada Therapeutics in the third quarter worth about $464,000. Hedge funds and other institutional investors own 86.39% of the company's stock.

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.

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