Renaissance Technologies LLC Invests $636,000 in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Renaissance Technologies LLC acquired a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,600 shares of the company's stock, valued at approximately $636,000. Renaissance Technologies LLC owned approximately 0.13% of Entrada Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TRDA. Acadian Asset Management LLC bought a new stake in Entrada Therapeutics during the 1st quarter valued at $79,000. Vanguard Group Inc. boosted its position in Entrada Therapeutics by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company's stock valued at $15,288,000 after purchasing an additional 13,742 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Entrada Therapeutics by 427.6% in the first 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. Bank of New York Mellon Corp raised its holdings in Entrada Therapeutics by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company's stock worth $1,787,000 after purchasing an additional 14,838 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Entrada Therapeutics by 25.3% during the second quarter. Rhumbline Advisers now owns 36,940 shares of the company's stock valued at $526,000 after buying an additional 7,452 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Entrada Therapeutics Trading Down 2.2 %

Shares of NASDAQ TRDA traded down $0.36 during midday trading on Thursday, reaching $15.81. The company had a trading volume of 160,270 shares, compared to its average volume of 104,606. The business's 50-day simple moving average is $15.64 and its 200 day simple moving average is $15.04. Entrada Therapeutics, Inc. has a 1 year low of $10.75 and a 1 year high of $18.17. The stock has a market cap of $588.13 million, a P/E ratio of 25.10 and a beta of -0.25.

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

Wall Street Analyst Weigh In

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

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,600 shares of Entrada Therapeutics stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.81, for a total transaction of $28,496.00. Following the completion of the transaction, the chief executive officer now owns 334,475 shares in the company, valued at approximately $5,956,999.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Nathan J. Dowden sold 1,904 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,898,759.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dipal Doshi sold 1,600 shares of the company's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.81, for a total value of $28,496.00. Following the completion of the transaction, the chief executive officer now directly owns 334,475 shares of the company's stock, valued at $5,956,999.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,725 shares of company stock worth $201,327 over the last three months. Company insiders own 7.58% of the company's stock.

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.