Entrada Therapeutics (NASDAQ:TRDA) Hits New 52-Week High – Here’s What Happened

Entrada Therapeutics, Inc. (NASDAQ:TRDA) reached a new 52-week high on Monday . The stock traded as high as $20.50 and last traded at $20.50, with a volume of 121493 shares. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

TRDA has been the topic of several research analyst reports. 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, November 6th. HC Wainwright lifted their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Entrada Therapeutics Stock Performance

The business’s 50 day simple moving average is $17.80 and its 200-day simple moving average is $16.38. The company has a market cap of $746.90 million, a price-to-earnings ratio of 12.69 and a beta of -0.18.

Insider Activity at Entrada Therapeutics

In other news, insider Natarajan Sethuraman sold 2,642 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares in the company, valued at approximately $2,773,783.44. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kory James Wentworth sold 8,637 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $19.98, for a total transaction of $172,567.26. Following the transaction, the chief financial officer now owns 73,849 shares in the company, valued at approximately $1,475,503.02. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,933 shares of company stock valued at $530,786. Insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE bought a new stake in Entrada Therapeutics in the third quarter valued at about $42,000. SG Americas Securities LLC bought a new stake in Entrada Therapeutics in the third quarter valued at about $156,000. Acadian Asset Management LLC increased its stake in Entrada Therapeutics by 135.1% in the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock valued at $190,000 after acquiring an additional 7,682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Entrada Therapeutics by 34.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,156 shares of the company’s stock valued at $226,000 after acquiring an additional 3,644 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Entrada Therapeutics by 89.1% in the third quarter. Public Employees Retirement System of Ohio now owns 16,259 shares of the company’s stock valued at $260,000 after acquiring an additional 7,659 shares during the period. 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.