Roth Capital Upgrades Entrada Therapeutics (NASDAQ:TRDA) to Strong-Buy

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Roth Mkm assumed coverage on shares of Entrada Therapeutics in a report on Thursday. They set a “buy” rating and a $29.00 price target for the company. Oppenheimer upped their price target on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright lifted their price objective on Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Entrada Therapeutics Stock Up 6.3 %

Shares of NASDAQ:TRDA opened at $21.59 on Thursday. The company’s fifty day moving average is $18.09 and its two-hundred day moving average is $16.47. The company has a market cap of $807.90 million, a P/E ratio of 13.58 and a beta of -0.18. Entrada Therapeutics has a 12-month low of $11.35 and a 12-month high of $21.63.

Insider Buying and Selling at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 73,849 shares of the company’s stock, valued at approximately $1,476,980. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natarajan Sethuraman sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $20.04, for a total value of $54,108.00. Following the sale, the insider now directly owns 160,888 shares of the company’s stock, valued at $3,224,195.52. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,934 shares of company stock worth $515,582 over the last ninety days. 7.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Entrada Therapeutics by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after acquiring an additional 13,742 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Entrada Therapeutics by 13.4% during the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Entrada Therapeutics by 87.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,631 shares of the company’s stock valued at $394,000 after purchasing an additional 12,868 shares during the period. Rhumbline Advisers grew its holdings in Entrada Therapeutics by 25.3% in 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 last quarter. Finally, Acadian Asset Management LLC increased its position in Entrada Therapeutics by 135.1% in the 2nd quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock worth $190,000 after buying an additional 7,682 shares during the period. Institutional investors 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.