Los Angeles Capital Management LLC Makes New $542,000 Investment in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Los Angeles Capital Management LLC acquired a new position in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,932 shares of the company's stock, valued at approximately $542,000. Los Angeles Capital Management LLC owned 0.09% of Entrada Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRDA. Renaissance Technologies LLC bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at about $636,000. The Manufacturers Life Insurance Company lifted its stake in Entrada Therapeutics by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company's stock valued at $814,000 after buying an additional 2,146 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Entrada Therapeutics in the first quarter valued at approximately $79,000. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Entrada Therapeutics by 427.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company's stock worth $209,000 after acquiring an additional 11,965 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Entrada Therapeutics Trading Down 6.2 %

Shares of NASDAQ TRDA traded down $1.19 during midday trading on Friday, reaching $17.85. The company's stock had a trading volume of 140,733 shares, compared to its average volume of 128,381. The stock has a 50 day simple moving average of $16.76 and a 200-day simple moving average of $15.94. The stock has a market capitalization of $667.95 million, a price-to-earnings ratio of 11.23 and a beta of -0.26. Entrada Therapeutics, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $20.49.

Insider Activity at Entrada Therapeutics

In related news, insider Natarajan Sethuraman sold 2,700 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $20.04, for a total transaction of $54,108.00. Following the sale, the insider now owns 160,888 shares in the company, valued at approximately $3,224,195.52. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Nathan J. Dowden sold 1,904 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.07, for a total value of $28,693.28. Following the completion of the transaction, the chief operating officer now owns 125,996 shares of the company's stock, valued at approximately $1,898,759.72. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,933 shares of company stock valued at $410,816. Corporate insiders own 7.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRDA. HC Wainwright upped their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Oppenheimer upped 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.

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.