Entrada Therapeutics (NASDAQ:TRDA) Reaches New 52-Week High – Should You Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares reached a new 52-week high on Monday . The company traded as high as $20.07 and last traded at $19.85, with a volume of 80561 shares trading hands. The stock had previously closed at $19.82.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRDA. Oppenheimer boosted their price objective on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. HC Wainwright increased their target price on Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Entrada Therapeutics Stock Up 0.9 %

The company has a 50 day simple moving average of $16.53 and a 200-day simple moving average of $15.83. The stock has a market cap of $746.90 million, a price-to-earnings ratio of 12.58 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.90. The firm had revenue of $94.69 million for the quarter, compared to analysts’ expectations of $55.00 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. On average, equities research analysts expect that Entrada Therapeutics, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Natarajan Sethuraman sold 2,700 shares of the business’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 transaction of $54,108.00. Following the completion of the transaction, the insider now owns 160,888 shares in the company, valued at $3,224,195.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,700 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $20.04, for a total value of $54,108.00. Following the completion of the transaction, the insider now owns 160,888 shares in the company, valued at approximately $3,224,195.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $14.97, for a total value of $47,829.15. Following the sale, the chief financial officer now directly owns 76,486 shares in the company, valued at approximately $1,144,995.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,933 shares of company stock valued at $410,816. Company insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 13,742 shares during the period. American Century Companies Inc. raised its position in shares of Entrada Therapeutics by 5.1% during the 2nd quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock worth $5,486,000 after buying an additional 18,625 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Entrada Therapeutics by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,984 shares of the company’s stock worth $2,972,000 after acquiring an additional 23,643 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Entrada Therapeutics by 132.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock valued at $2,215,000 after acquiring an additional 78,953 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 valued at $1,787,000 after acquiring an additional 14,838 shares during the period. 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.