Bros. Advisors Lp Baker Purchases 46,434 Shares of Entrada Therapeutics (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bros. Advisors Lp Baker bought 46,434 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $348,255.00. Following the transaction, the insider directly owned 4,572,549 shares of the company’s stock, valued at $34,294,117.50. The trade was a 1.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Wednesday, November 12th, Bros. Advisors Lp Baker purchased 100,736 shares of Entrada Therapeutics stock. The shares were purchased at an average cost of $7.76 per share, with a total value of $781,711.36.
• On Monday, November 10th, Bros. Advisors Lp Baker purchased 30,874 shares of Entrada Therapeutics stock. The stock was purchased at an average price of $7.21 per share, with a total value of $222,601.54.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA opened at $8.78 on Friday. The firm has a market cap of $335.57 million, a price-to-earnings ratio of -3.53 and a beta of -0.08. The stock’s fifty day moving average price is $6.17 and its two-hundred day moving average price is $6.70. Entrada Therapeutics, Inc. has a one year low of $4.93 and a one year high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The firm had revenue of $1.61 million for the quarter, compared to analyst estimates of $8.62 million. On average, equities analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRDA has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a report on Wednesday, October 8th. Zacks Research upgraded Entrada Therapeutics to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Roth Capital set a $13.00 price objective on Entrada Therapeutics in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Entrada Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Merck & Co. Inc. acquired a new position in Entrada Therapeutics during the first quarter valued at approximately $15,728,000. Wellington Management Group LLP increased its stake in shares of Entrada Therapeutics by 2.1% in the 1st quarter. Wellington Management Group LLP now owns 1,053,314 shares of the company’s stock valued at $9,522,000 after purchasing an additional 21,488 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after purchasing an additional 42,479 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Entrada Therapeutics by 54.8% during the 3rd quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock worth $2,004,000 after buying an additional 122,256 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Entrada Therapeutics by 4,767.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock worth $860,000 after buying an additional 145,167 shares during the last quarter. 86.39% of the stock is owned by institutional investors.

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.