Entrada Therapeutics (NASDAQ:TRDA) Reaches New 52-Week High – Should You Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $20.07 and last traded at $19.85, with a volume of 80561 shares changing hands. The stock had previously closed at $19.82.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Oppenheimer boosted their target price on 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 increased their price objective on Entrada Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Entrada Therapeutics Trading Up 0.9 %

The stock’s 50 day moving average is $16.53 and its 200 day moving average is $15.83. The stock has a market capitalization of $746.90 million, a price-to-earnings ratio of 12.58 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. The firm had revenue of $94.69 million for the quarter, compared to analyst estimates of $55.00 million. On average, sell-side analysts anticipate that Entrada Therapeutics, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kory James Wentworth sold 8,637 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $1,475,503.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Kory James Wentworth sold 8,637 shares of the 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 directly owns 73,849 shares in the company, valued at approximately $1,475,503.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Natarajan Sethuraman sold 2,700 shares of Entrada Therapeutics stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $20.04, for a total value of $54,108.00. Following the completion of the sale, the insider now owns 160,888 shares of the company’s stock, valued at $3,224,195.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,933 shares of company stock worth $410,816. 7.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRDA. Vanguard Group Inc. lifted its holdings in shares of Entrada Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock valued at $15,288,000 after acquiring an additional 13,742 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Entrada Therapeutics by 5.1% during the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock worth $5,486,000 after purchasing an additional 18,625 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Entrada Therapeutics by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 185,984 shares of the company’s stock worth $2,972,000 after buying an additional 23,643 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Entrada Therapeutics by 132.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock valued at $2,215,000 after buying an additional 78,953 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Entrada Therapeutics by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock worth $1,787,000 after acquiring an additional 14,838 shares in the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

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.