Entrada Therapeutics’ (TRDA) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Entrada Therapeutics (NASDAQ:TRDA) in a research report released on Tuesday,Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

Several other research analysts also recently commented on the company. Roth Mkm assumed coverage on Entrada Therapeutics in a report on Thursday, December 5th. They set a “buy” rating and a $29.00 price objective on the stock. Roth Capital upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Oppenheimer lifted their price target on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th.

Entrada Therapeutics Stock Down 3.6 %

TRDA opened at $13.48 on Tuesday. The stock’s fifty day moving average is $16.41 and its two-hundred day moving average is $16.57. The company has a market capitalization of $504.42 million, a P/E ratio of 8.48 and a beta of -0.17. Entrada Therapeutics has a 52 week low of $11.35 and a 52 week high of $21.79.

Insider Activity

In other news, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer now owns 73,849 shares of the company’s stock, valued at $1,476,980. This trade represents a 6.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natarajan Sethuraman sold 1,409 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 163,588 shares of the company’s stock, valued at $3,273,395.88. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,681 shares of company stock worth $851,199. 7.59% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

A number of institutional investors have recently made changes to their positions in TRDA. Renaissance Technologies LLC acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter worth $636,000. Marshall Wace LLP lifted its position in Entrada Therapeutics by 27.5% during the 2nd quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock worth $940,000 after acquiring an additional 14,220 shares during the period. The Manufacturers Life Insurance Company lifted its position in Entrada Therapeutics by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after acquiring an additional 2,146 shares during the period. SG Americas Securities LLC acquired a new stake in Entrada Therapeutics during the 3rd quarter worth about $156,000. Finally, BayBridge Capital Group LLC acquired a new stake in Entrada Therapeutics during the 3rd quarter worth about $464,000. Institutional investors and hedge funds own 86.39% 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.