Entrada Therapeutics (NASDAQ:TRDA) Stock Price Down 7.6% – Time to Sell?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price fell 7.6% during trading on Friday . The stock traded as low as $14.96 and last traded at $14.99. 31,912 shares were traded during trading, a decline of 69% from the average session volume of 102,003 shares. The stock had previously closed at $16.22.

Analysts Set New Price Targets

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

Entrada Therapeutics Stock Performance

The company has a market capitalization of $548.20 million, a price-to-earnings ratio of 9.21 and a beta of -0.12. The business’s 50 day moving average is $18.50 and its 200 day moving average is $16.88.

Insiders Place Their Bets

In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $20.04, for a total transaction of $54,108.00. Following the completion of the transaction, the insider now directly owns 160,888 shares of the company’s stock, valued at approximately $3,224,195.52. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.77, for a total transaction of $476,359.95. Following the sale, the insider now owns 4,402,849 shares of the company’s stock, valued at approximately $91,447,173.73. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,281 shares of company stock valued at $861,999. Insiders own 7.59% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in Entrada Therapeutics by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,711,459 shares of the company’s stock worth $27,358,000 after purchasing an additional 161,962 shares during the period. Geode Capital Management LLC boosted its stake in shares of Entrada Therapeutics by 8.8% in the third quarter. Geode Capital Management LLC now owns 576,451 shares of the company’s stock worth $9,214,000 after buying an additional 46,512 shares during the last quarter. State Street Corp grew its holdings in Entrada Therapeutics by 5.5% during the third quarter. State Street Corp now owns 469,601 shares of the company’s stock worth $7,504,000 after acquiring an additional 24,385 shares during the period. American Century Companies Inc. raised its position in Entrada Therapeutics by 5.1% during the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock valued at $5,486,000 after acquiring an additional 18,625 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Entrada Therapeutics by 50.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 201,803 shares of the company’s stock valued at $3,225,000 after acquiring an additional 67,559 shares during the period. Institutional investors and hedge funds 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.