Entrada Therapeutics, Inc. (NASDAQ:TRDA) Major Shareholder Sells $476,359.95 in Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total value of $476,359.95. Following the completion of the sale, the insider now owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Entrada Therapeutics Trading Down 2.5 %

Shares of TRDA stock opened at $17.66 on Friday. Entrada Therapeutics, Inc. has a twelve month low of $11.35 and a twelve month high of $21.79. The stock has a fifty day simple moving average of $18.41 and a two-hundred day simple moving average of $16.62. The stock has a market capitalization of $660.84 million, a price-to-earnings ratio of 11.11 and a beta of -0.18.

Institutional Trading of Entrada Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new position in Entrada Therapeutics during the 3rd quarter valued at about $42,000. SG Americas Securities LLC bought a new position in shares of Entrada Therapeutics during the third quarter valued at approximately $156,000. Acadian Asset Management LLC increased its holdings in Entrada Therapeutics by 135.1% during the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock valued at $190,000 after buying an additional 7,682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $226,000 after buying an additional 3,644 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Entrada Therapeutics by 89.1% during the third quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock worth $260,000 after buying an additional 7,659 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer increased their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm initiated coverage on shares of Entrada Therapeutics in a report on Thursday, December 5th. They issued a “buy” rating and a $29.00 price target on the stock. HC Wainwright lifted their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Roth Capital upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th.

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.