Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 11.2%

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) were down 11.2% on Tuesday . The stock traded as low as $15.67 and last traded at $15.72. Approximately 49,744 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 96,394 shares. The stock had previously closed at $17.70.

Analysts Set New Price Targets

Several research firms have recently commented on TRDA. Oppenheimer reissued an “outperform” rating and issued a $25.00 price target on shares of Entrada Therapeutics in a research report on Monday, August 26th. HC Wainwright reissued 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 Trading Down 0.1 %

The company has a 50-day moving average of $15.98 and a 200-day moving average of $14.62. The company has a market capitalization of $572.51 million, a price-to-earnings ratio of 24.43 and a beta of -0.24.

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

Insider Activity at Entrada Therapeutics

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

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Entrada Therapeutics by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock worth $15,288,000 after buying an additional 13,742 shares during the last quarter. American Century Companies Inc. boosted its position in Entrada Therapeutics by 5.1% during the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock worth $5,486,000 after purchasing an additional 18,625 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Entrada Therapeutics by 13.4% during 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. Marshall Wace LLP boosted its position in Entrada Therapeutics by 27.5% during the second quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock worth $940,000 after purchasing an additional 14,220 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Entrada Therapeutics by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after purchasing an additional 2,146 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

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.