Bioventures 2018 L.P. Mpm Sells 22,935 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) major shareholder Bioventures 2018 L.P. Mpm sold 22,935 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.77, for a total transaction of $476,359.95. Following the transaction, the insider now owns 4,402,849 shares of the company’s stock, valued at $91,447,173.73. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Entrada Therapeutics Stock Performance

TRDA stock traded down $1.78 during midday trading on Thursday, reaching $18.12. The company’s stock had a trading volume of 88,478 shares, compared to its average volume of 107,694. The firm has a market capitalization of $678.05 million, a price-to-earnings ratio of 11.55 and a beta of -0.18. The stock has a fifty day simple moving average of $18.36 and a two-hundred day simple moving average of $16.59. Entrada Therapeutics, Inc. has a 1 year low of $11.35 and a 1 year high of $21.79.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TRDA shares. Roth Capital raised shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Oppenheimer raised 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. Roth Mkm started coverage on Entrada Therapeutics in a report on Thursday, December 5th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, HC Wainwright increased their price target on Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in shares of Entrada Therapeutics during the third quarter valued at $542,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Entrada Therapeutics by 132.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 138,605 shares of the company’s stock worth $2,215,000 after purchasing an additional 78,953 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at approximately $1,109,000. Renaissance Technologies LLC bought a new position in Entrada Therapeutics during the second quarter worth about $636,000. Finally, The Manufacturers Life Insurance Company boosted its position in Entrada Therapeutics by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock valued at $814,000 after buying an additional 2,146 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.