HC Wainwright Reaffirms “Buy” Rating for Entrada Therapeutics (NASDAQ:TRDA)

Entrada Therapeutics (NASDAQ:TRDA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 42.96% from the company’s previous close.

TRDA has been the topic of several other research reports. Oppenheimer boosted their price target on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm started coverage on Entrada Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Roth Capital upgraded Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $13.99 on Tuesday. The business’s 50-day simple moving average is $16.41 and its two-hundred day simple moving average is $16.57. The company has a market cap of $523.51 million, a PE ratio of 8.80 and a beta of -0.17. Entrada Therapeutics has a fifty-two week low of $11.35 and a fifty-two week high of $21.79.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, 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 transaction of $476,359.95. Following the transaction, the insider now owns 4,402,849 shares in the company, valued at approximately $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natarajan Sethuraman sold 1,409 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.01, for a total value of $28,194.09. Following the transaction, the insider now owns 163,588 shares in the company, valued at $3,273,395.88. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,681 shares of company stock worth $851,199 over the last quarter. 7.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds have recently bought and sold shares of TRDA. Renaissance Technologies LLC purchased a new position in Entrada Therapeutics during the second quarter worth approximately $636,000. Marshall Wace LLP boosted its position in Entrada Therapeutics by 27.5% during the second quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock worth $940,000 after purchasing an additional 14,220 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Entrada Therapeutics by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock worth $814,000 after purchasing an additional 2,146 shares in the last quarter. SG Americas Securities LLC purchased a new position in Entrada Therapeutics during the third quarter worth approximately $156,000. Finally, BayBridge Capital Group LLC acquired a new position in shares of Entrada Therapeutics during the third quarter valued at approximately $464,000. 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.