Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 3%

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price fell 3% during mid-day trading on Wednesday . The stock traded as low as $16.40 and last traded at $16.42. 16,419 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 94,957 shares. The stock had previously closed at $16.93.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 14th.

Entrada Therapeutics Price Performance

The firm has a market cap of $621.24 million, a PE ratio of 26.87 and a beta of -0.25. The business has a 50-day moving average price of $15.62 and a two-hundred day moving average price of $14.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.90. The firm had revenue of $94.69 million during the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. Equities analysts expect that Entrada Therapeutics, Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,600 shares of the firm’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 sale, the chief executive officer now directly owns 334,475 shares of the company’s stock, valued at approximately $5,956,999.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Kory James Wentworth sold 1,758 shares of Entrada Therapeutics stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.95, for a total value of $26,282.10. Following the transaction, the chief financial officer now directly owns 81,412 shares of the company’s stock, valued at approximately $1,217,109.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dipal Doshi sold 1,600 shares of Entrada Therapeutics stock in a transaction dated Monday, July 15th. The shares were 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 in the company, valued at $5,956,999.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,896 shares of company stock valued at $98,632. Insiders own 7.58% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of Entrada Therapeutics in the 1st quarter valued at about $27,000. The Manufacturers Life Insurance Company raised its holdings in shares of Entrada Therapeutics by 3.9% during the 2nd 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 during the period. Acadian Asset Management LLC purchased a new stake in shares of Entrada Therapeutics during the 1st quarter valued at about $79,000. Rhumbline Advisers raised its holdings in shares of Entrada Therapeutics by 25.3% during the 2nd 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 period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of 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 buying an additional 11,965 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

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.