Entrada Therapeutics (NASDAQ:TRDA) Sees Unusually-High Trading Volume

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares saw an uptick in trading volume on Monday . 351,121 shares changed hands during trading, an increase of 272% from the previous session’s volume of 94,287 shares.The stock last traded at $16.45 and had previously closed at $16.53.

Analyst Upgrades and Downgrades

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

Entrada Therapeutics Stock Down 2.8 %

The stock has a market capitalization of $612.31 million, a price-to-earnings ratio of 26.13 and a beta of -0.25. The business has a 50-day simple moving average of $15.62 and a two-hundred day simple moving average of $14.45.

Entrada Therapeutics (NASDAQ:TRDA) last released its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share 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 the consensus estimate of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. On average, analysts forecast that Entrada Therapeutics, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, CEO Dipal Doshi sold 1,600 shares of the company’s stock in a transaction on 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 owns 334,475 shares of the company’s stock, valued at $5,956,999.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Entrada Therapeutics news, CFO Kory James Wentworth sold 1,758 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $14.95, for a total transaction of $26,282.10. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Also, CEO Dipal Doshi sold 1,600 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.81, for a total transaction of $28,496.00. Following the sale, 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. Over the last 90 days, insiders have sold 5,896 shares of company stock valued at $98,632. Corporate insiders own 7.58% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds have recently modified their holdings of TRDA. New York State Teachers Retirement System bought a new stake in Entrada Therapeutics during the first quarter valued at about $27,000. Acadian Asset Management LLC bought a new stake in Entrada Therapeutics during the first quarter valued at about $79,000. Allspring Global Investments Holdings LLC boosted its holdings in Entrada Therapeutics by 427.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock valued at $209,000 after acquiring an additional 11,965 shares during the period. Strs Ohio boosted its holdings in Entrada Therapeutics by 792.6% during the fourth quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $363,000 after acquiring an additional 21,400 shares during the period. Finally, Rhumbline Advisers boosted its holdings in 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 acquiring an additional 7,452 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.