Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s stock price was down 7.6% during trading on Friday . The stock traded as low as $14.96 and last traded at $14.99. Approximately 31,912 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 102,003 shares. The stock had previously closed at $16.22.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TRDA. Oppenheimer boosted their price objective on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Roth Capital raised Entrada Therapeutics to a "strong-buy" rating in a research note on Thursday, December 5th. Roth Mkm started coverage on Entrada Therapeutics in a report on Thursday, December 5th. They set a "buy" rating and a $29.00 price target on the stock. Finally, HC Wainwright upped their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th.
Get Our Latest Stock Analysis on Entrada Therapeutics
Entrada Therapeutics Price Performance
The business has a fifty day moving average of $18.56 and a 200-day moving average of $16.87. The stock has a market capitalization of $548.20 million, a price-to-earnings ratio of 9.21 and a beta of -0.12.
Insider Transactions at Entrada Therapeutics
In related news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total value of $476,359.95. Following the completion of the sale, the insider now owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kory James Wentworth sold 8,637 shares of Entrada Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $19.98, for a total value of $172,567.26. Following the transaction, the chief financial officer now owns 73,849 shares in the company, valued at $1,475,503.02. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,281 shares of company stock valued at $861,999 in the last quarter. Insiders own 7.59% of the company's stock.
Institutional Trading of Entrada Therapeutics
Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of Entrada Therapeutics by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,711,459 shares of the company's stock worth $27,358,000 after purchasing an additional 161,962 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 buying an additional 78,953 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Entrada Therapeutics during the third quarter valued at about $1,109,000. Jacobs Levy Equity Management Inc. raised its holdings in Entrada Therapeutics by 50.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company's stock valued at $3,225,000 after buying an additional 67,559 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Entrada Therapeutics by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 576,451 shares of the company's stock worth $9,214,000 after acquiring an additional 46,512 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.
About Entrada Therapeutics
(
Get Free Report)
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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