Entrada Therapeutics, Inc. (NASDAQ:TRDA) Short Interest Down 19.1% in October

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a decrease of 19.1% from the September 30th total of 2,040,000 shares. Currently, 7.6% of the shares of the stock are short sold. Based on an average daily volume of 139,800 shares, the days-to-cover ratio is currently 11.8 days.

Entrada Therapeutics Stock Performance

Shares of TRDA traded up $0.38 during mid-day trading on Monday, hitting $17.37. 66,142 shares of the stock were exchanged, compared to its average volume of 104,098. The company has a market cap of $646.16 million, a PE ratio of 5.83 and a beta of -0.25. Entrada Therapeutics has a 52-week low of $10.75 and a 52-week high of $18.17. The firm has a 50-day moving average of $16.14 and a two-hundred day moving average of $15.34.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.90. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. The company had revenue of $94.69 million for the quarter, compared to the consensus estimate of $55.00 million. On average, sell-side analysts predict that Entrada Therapeutics will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other news, COO Nathan J. Dowden sold 1,904 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the sale, the chief operating officer now directly owns 125,996 shares in the company, valued at $1,898,759.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kory James Wentworth sold 3,195 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $14.97, for a total value of $47,829.15. Following the transaction, the chief financial officer now directly owns 76,486 shares of the company's stock, valued at approximately $1,144,995.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Nathan J. Dowden sold 1,904 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was 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 $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 sold a total of 10,187 shares of company stock worth $155,947 over the last three months. 7.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRDA shares. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 14th. Oppenheimer restated an "outperform" rating and set a $25.00 price objective on shares of Entrada Therapeutics in a research report on Monday, August 26th.

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.