Massachusetts Financial Services Co. MA Invests $1.11 Million in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Massachusetts Financial Services Co. MA acquired a new position in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 69,394 shares of the company's stock, valued at approximately $1,109,000. Massachusetts Financial Services Co. MA owned approximately 0.19% of Entrada Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position 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 worth $2,215,000 after acquiring an additional 78,953 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Entrada Therapeutics by 71.8% in the third quarter. GSA Capital Partners LLP now owns 36,577 shares of the company's stock worth $585,000 after purchasing an additional 15,284 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Entrada Therapeutics during the third quarter valued at $542,000. US Bancorp DE bought a new stake in shares of Entrada Therapeutics during the 3rd quarter valued at $42,000. Finally, BayBridge Capital Group LLC purchased a new stake in shares of Entrada Therapeutics in the 3rd quarter worth about $464,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $14.97, for a total transaction of $47,829.15. Following the sale, the chief financial officer now directly owns 76,486 shares of the company's stock, valued at $1,144,995.42. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Natarajan Sethuraman sold 1,409 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.01, for a total value of $28,194.09. Following the completion of the transaction, the insider now directly owns 163,588 shares of the company's stock, valued at approximately $3,273,395.88. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,933 shares of company stock valued at $410,816. 7.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TRDA has been the subject of a number of recent research reports. Oppenheimer lifted their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. HC Wainwright lifted their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, November 6th.

Entrada Therapeutics Stock Up 2.4 %

Shares of NASDAQ TRDA traded up $0.46 during trading on Thursday, reaching $19.83. The company had a trading volume of 124,306 shares, compared to its average volume of 107,148. Entrada Therapeutics, Inc. has a 12-month low of $11.35 and a 12-month high of $20.49. The business's 50-day moving average is $17.38 and its 200 day moving average is $16.21. The stock has a market cap of $742.04 million, a PE ratio of 12.47 and a beta of -0.26.

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.