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

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bros. Advisors Lp Baker purchased 46,434 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of $7.50 per share, with a total value 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. This represents a 1.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, November 12th, Bros. Advisors Lp Baker bought 100,736 shares of Entrada Therapeutics stock. The stock was 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 shares were purchased at an average cost of $7.21 per share, for a total transaction of $222,601.54.

Entrada Therapeutics Stock Up 4.0%

Shares of TRDA traded up $0.31 on Wednesday, hitting $8.01. 321,176 shares of the stock traded hands, compared to its average volume of 183,210. The stock’s 50 day moving average is $6.05 and its two-hundred day moving average is $6.67. The firm has a market capitalization of $306.14 million, a P/E ratio of -3.22 and a beta of -0.08. Entrada Therapeutics, Inc. has a 1 year low of $4.93 and a 1 year high of $21.79.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRDA. Martingale Asset Management L P raised its stake in shares of Entrada Therapeutics by 4.0% in the 1st quarter. Martingale Asset Management L P now owns 40,163 shares of the company’s stock valued at $363,000 after purchasing an additional 1,540 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Entrada Therapeutics by 14.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,277 shares of the company’s stock valued at $103,000 after acquiring an additional 1,874 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Entrada Therapeutics by 15.7% in the second quarter. Intech Investment Management LLC now owns 17,702 shares of the company’s stock worth $119,000 after purchasing an additional 2,397 shares during the period. First Trust Advisors LP boosted its holdings in Entrada Therapeutics by 3.6% in the second quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock worth $505,000 after purchasing an additional 2,631 shares during the period. Finally, Virtus Investment Advisers LLC raised its holdings in shares of Entrada Therapeutics by 32.1% during the second quarter. Virtus Investment Advisers LLC now owns 11,979 shares of the company’s stock worth $80,000 after purchasing an additional 2,914 shares during the period. 86.39% of the stock is currently 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.