Entrada Therapeutics (NASDAQ:TRDA) Reaches New 12-Month High – What’s Next?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.17 and last traded at $18.03, with a volume of 101296 shares. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TRDA shares. HC Wainwright lifted their price target on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 report on Wednesday.

Entrada Therapeutics Trading Up 3.1 %

The stock has a market capitalization of $715.36 million, a PE ratio of 6.30 and a beta of -0.26. The firm’s 50-day simple moving average is $16.33 and its two-hundred day simple moving average is $15.61.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. The company had revenue of $94.69 million during the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. As a group, research analysts expect that Entrada Therapeutics, Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Entrada Therapeutics

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 transaction of $47,829.15. Following the completion of the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Nathan J. Dowden sold 1,904 shares of Entrada Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.07, for a total value of $28,693.28. Following the completion of the sale, the chief operating officer now owns 125,996 shares of the company’s stock, valued at approximately $1,898,759.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $47,829.15. Following the completion of the sale, the chief financial officer now directly owns 76,486 shares of the company’s stock, valued at approximately $1,144,995.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,187 shares of company stock valued at $155,947 in the last quarter. Company insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. US Bancorp DE bought a new position in Entrada Therapeutics in the 3rd quarter worth $42,000. Acadian Asset Management LLC bought a new position in Entrada Therapeutics in the 1st quarter worth $79,000. SG Americas Securities LLC bought a new position in Entrada Therapeutics in the 3rd quarter worth $156,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Entrada Therapeutics by 427.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after purchasing an additional 11,965 shares during the period. Finally, BayBridge Capital Group LLC bought a new position in shares of Entrada Therapeutics during the 3rd quarter worth about $464,000. Institutional investors own 86.39% of the company’s stock.

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.