Royce & Associates LP Decreases Stock Position in Entrada Therapeutics, Inc. $TRDA

Royce & Associates LP cut its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 28.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 247,147 shares of the company’s stock after selling 98,360 shares during the quarter. Royce & Associates LP’s holdings in Entrada Therapeutics were worth $2,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming boosted its stake in shares of Entrada Therapeutics by 130.9% in the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after purchasing an additional 4,295 shares during the period. Russell Investments Group Ltd. boosted its stake in Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after acquiring an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Entrada Therapeutics during the 2nd quarter valued at $68,000. IHT Wealth Management LLC bought a new position in Entrada Therapeutics during the 2nd quarter valued at $72,000. Finally, AXQ Capital LP bought a new position in Entrada Therapeutics during the 3rd quarter valued at $67,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a research note on Wednesday, April 1st. They set an “overweight” rating on the stock. Oppenheimer raised their price target on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. Roth Mkm set a $10.00 price target on shares of Entrada Therapeutics in a research report on Friday, May 8th. Finally, Guggenheim upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Entrada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $7.07 on Friday. Entrada Therapeutics, Inc. has a 1 year low of $4.93 and a 1 year high of $16.45. The firm’s 50-day moving average is $10.95 and its 200-day moving average is $10.85. The company has a market cap of $274.46 million, a P/E ratio of -1.77 and a beta of -0.09.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.11. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The business had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $2.92 million. As a group, sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.12 earnings per share for the current year.

Insider Activity

In related news, COO Nathan J. Dowden sold 15,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $15.33, for a total value of $229,950.00. Following the sale, the chief operating officer owned 198,588 shares of the company’s stock, valued at $3,044,354.04. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kory James Wentworth sold 2,500 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total transaction of $32,375.00. Following the completion of the sale, the chief financial officer directly owned 119,010 shares in the company, valued at approximately $1,541,179.50. This trade represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 82,882 shares of company stock worth $1,169,103 in the last 90 days. 9.49% of the stock is currently owned by insiders.

About Entrada Therapeutics

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.