Fmr LLC Sells 85,667 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Fmr LLC reduced its stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,743,498 shares of the company’s stock after selling 85,667 shares during the period. Fmr LLC owned 4.66% of Entrada Therapeutics worth $27,861,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE bought a new stake in Entrada Therapeutics in the 3rd quarter valued at about $42,000. SG Americas Securities LLC acquired a new stake in Entrada Therapeutics in the third quarter valued at approximately $156,000. Acadian Asset Management LLC increased its holdings in shares of Entrada Therapeutics by 135.1% during the second quarter. Acadian Asset Management LLC now owns 13,367 shares of the company’s stock valued at $190,000 after acquiring an additional 7,682 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Entrada Therapeutics by 87.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 27,631 shares of the company’s stock worth $394,000 after purchasing an additional 12,868 shares during the period. Finally, BayBridge Capital Group LLC bought a new position in shares of Entrada Therapeutics in the 3rd quarter worth $464,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $21.52 on Tuesday. The firm has a 50-day moving average of $18.20 and a 200-day moving average of $16.53. Entrada Therapeutics, Inc. has a one year low of $11.35 and a one year high of $21.79. The company has a market cap of $805.28 million, a P/E ratio of 13.53 and a beta of -0.18.

Insiders Place Their Bets

In other Entrada Therapeutics news, insider Natarajan Sethuraman sold 1,409 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.01, for a total value of $28,194.09. Following the transaction, the insider now owns 163,588 shares of the company’s stock, valued at approximately $3,273,395.88. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kory James Wentworth sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer now directly owns 73,849 shares of the company’s stock, valued at approximately $1,476,980. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,193 shares of company stock valued at $399,191. Corporate insiders own 7.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRDA. Roth Capital upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a report on Thursday, December 5th. Oppenheimer upped their target price on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. HC Wainwright lifted 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. Finally, Roth Mkm started coverage on Entrada Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $29.00 price objective for the company.

Entrada Therapeutics 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.