Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 38.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,621 shares of the company’s stock after selling 52,984 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of Entrada Therapeutics worth $1,480,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TRDA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Entrada Therapeutics by 34.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock valued at $226,000 after purchasing an additional 3,644 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Entrada Therapeutics in the 4th quarter valued at approximately $70,000. SG Americas Securities LLC raised its position in shares of Entrada Therapeutics by 44.0% in the 4th quarter. SG Americas Securities LLC now owns 14,036 shares of the company’s stock valued at $243,000 after purchasing an additional 4,291 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Entrada Therapeutics by 89.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock valued at $260,000 after buying an additional 7,659 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Entrada Therapeutics during the fourth quarter worth approximately $137,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $10.75 on Thursday. Entrada Therapeutics, Inc. has a 1-year low of $10.22 and a 1-year high of $21.79. The company’s fifty day moving average is $12.45 and its two-hundred day moving average is $15.68. The stock has a market capitalization of $404.15 million, a price-to-earnings ratio of 6.76 and a beta of -0.14.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, February 27th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.66) by $0.69. The company had revenue of $12.25 million during the quarter, compared to analyst estimates of $11.95 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. Sell-side analysts expect that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

TRDA has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a research note on Tuesday, February 25th. Roth Mkm initiated coverage on shares of Entrada Therapeutics in a research report on Thursday, December 5th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Roth Capital raised Entrada Therapeutics to a “strong-buy” rating in a report on Thursday, December 5th.

Entrada Therapeutics 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.