Entrada Therapeutics (NASDAQ:TRDA) Upgraded at Roth Capital

Roth Capital upgraded shares of Entrada Therapeutics (NASDAQ:TRDA) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. HC Wainwright lifted their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their price objective 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, Roth Mkm began coverage on shares of Entrada Therapeutics in a research note on Thursday. They set a “buy” rating and a $29.00 price objective for the company.

Entrada Therapeutics Trading Up 6.3 %

NASDAQ:TRDA opened at $21.59 on Thursday. Entrada Therapeutics has a 12 month low of $11.35 and a 12 month high of $21.63. The firm has a fifty day simple moving average of $18.09 and a 200-day simple moving average of $16.47. The company has a market capitalization of $807.90 million, a P/E ratio of 13.58 and a beta of -0.18.

Insider Buying and Selling

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 3,195 shares of Entrada Therapeutics stock in a transaction 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 completion of the transaction, the chief financial officer now owns 76,486 shares of the company’s stock, valued at approximately $1,144,995.42. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natarajan Sethuraman sold 2,642 shares of Entrada Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the completion of the transaction, the insider now directly owns 183,816 shares of the company’s stock, valued at $2,773,783.44. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,934 shares of company stock valued at $515,582 over the last 90 days. Insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRDA. Vanguard Group Inc. increased its stake in shares of Entrada Therapeutics by 1.3% during 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 in the last quarter. 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 worth $1,787,000 after purchasing an additional 14,838 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Entrada Therapeutics by 87.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 27,631 shares of the company’s stock worth $394,000 after acquiring an additional 12,868 shares during the last quarter. Rhumbline Advisers boosted its position in Entrada Therapeutics by 25.3% during the second quarter. Rhumbline Advisers now owns 36,940 shares of the company’s stock worth $526,000 after acquiring an additional 7,452 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Entrada Therapeutics by 135.1% during the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock worth $190,000 after acquiring an additional 7,682 shares during the last quarter. Hedge funds and other 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.