Geode Capital Management LLC Raises Position in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Geode Capital Management LLC increased its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) by 8.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 576,451 shares of the company's stock after purchasing an additional 46,512 shares during the period. Geode Capital Management LLC owned approximately 1.54% of Entrada Therapeutics worth $9,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRDA. Janus Henderson Group PLC boosted its position in Entrada Therapeutics by 10.5% during the third quarter. Janus Henderson Group PLC now owns 1,711,459 shares of the company's stock valued at $27,358,000 after buying an additional 161,962 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Entrada Therapeutics by 132.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company's stock valued at $2,215,000 after acquiring an additional 78,953 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Entrada Therapeutics during the 3rd quarter valued at about $1,109,000. Jacobs Levy Equity Management Inc. grew its position in Entrada Therapeutics by 50.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company's stock worth $3,225,000 after acquiring an additional 67,559 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Entrada Therapeutics in the 2nd quarter worth approximately $636,000. Institutional investors own 86.39% of the company's stock.

Analyst Upgrades and Downgrades

TRDA has been the subject of a number of analyst reports. Roth Mkm assumed coverage on Entrada Therapeutics in a research note on Thursday, December 5th. They set a "buy" rating and a $29.00 price objective for the company. Oppenheimer raised their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. HC Wainwright boosted their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Roth Capital upgraded shares of Entrada Therapeutics to a "strong-buy" rating in a report on Thursday, December 5th.

Entrada Therapeutics Price Performance

NASDAQ:TRDA traded up $0.17 during trading hours on Thursday, hitting $17.46. The company had a trading volume of 155,309 shares, compared to its average volume of 108,163. The stock has a 50-day moving average price of $18.54 and a 200 day moving average price of $16.78. The company has a market capitalization of $653.35 million, a PE ratio of 10.98 and a beta of -0.18. Entrada Therapeutics, Inc. has a 52 week low of $11.35 and a 52 week high of $21.79.

Insider Activity

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total transaction of $476,359.95. Following the sale, the insider now owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Natarajan Sethuraman sold 1,409 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.01, for a total transaction of $28,194.09. Following the completion of the transaction, the insider now owns 163,588 shares of the company's stock, valued at approximately $3,273,395.88. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,281 shares of company stock valued at $861,999. Corporate insiders own 7.59% of the company's stock.

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.