Insider Buying: Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Acquires 2,600 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Peter S. Kim bought 2,600 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were bought at an average cost of $13.57 per share, with a total value of $35,282.00. Following the purchase, the director now directly owns 62,936 shares of the company’s stock, valued at $854,041.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Entrada Therapeutics Stock Up 5.9 %

Entrada Therapeutics stock opened at $13.26 on Friday. The company has a fifty day simple moving average of $13.51 and a 200-day simple moving average of $14.46. Entrada Therapeutics, Inc. has a 52-week low of $10.62 and a 52-week high of $18.44.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.22). The business had revenue of $41.85 million for the quarter, compared to analysts’ expectations of $27.82 million. Entrada Therapeutics had a negative net margin of 5.18% and a negative return on equity of 2.89%. Equities analysts anticipate that Entrada Therapeutics, Inc. will post -1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc grew its holdings in Entrada Therapeutics by 100.0% in the 3rd quarter. TD Asset Management Inc now owns 119,254 shares of the company’s stock valued at $1,884,000 after buying an additional 59,627 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Entrada Therapeutics by 2.6% in the third quarter. Wellington Management Group LLP now owns 1,045,652 shares of the company’s stock valued at $16,521,000 after purchasing an additional 26,144 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Entrada Therapeutics during the third quarter worth about $44,000. SG Americas Securities LLC purchased a new position in Entrada Therapeutics during the third quarter worth about $145,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Entrada Therapeutics by 476.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the company’s stock valued at $87,000 after purchasing an additional 4,777 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Wall Street Analyst Weigh In

TRDA has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a report on Monday, March 18th. Oppenheimer started coverage on Entrada Therapeutics in a research report on Friday, January 5th. They issued an “outperform” rating and a $22.00 target price on the 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.