Allspring Global Investments Holdings LLC Has $149,000 Stock Position in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Allspring Global Investments Holdings LLC grew its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 53.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,020 shares of the company’s stock after purchasing an additional 5,896 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Entrada Therapeutics were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its stake in shares of Entrada Therapeutics by 6.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company’s stock valued at $298,000 after buying an additional 1,000 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Entrada Therapeutics by 7.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 16,453 shares of the company’s stock valued at $284,000 after buying an additional 1,113 shares in the last quarter. WCG Wealth Advisors LLC grew its stake in shares of Entrada Therapeutics by 6.2% in the fourth quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company’s stock valued at $415,000 after buying an additional 1,406 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Entrada Therapeutics by 4.9% in the fourth quarter. Bank of America Corp DE now owns 35,721 shares of the company’s stock valued at $618,000 after buying an additional 1,660 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Entrada Therapeutics by 11.9% in the fourth quarter. MetLife Investment Management LLC now owns 16,329 shares of the company’s stock valued at $282,000 after buying an additional 1,731 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Price Performance

TRDA stock opened at $6.55 on Friday. The company has a fifty day moving average price of $7.68 and a two-hundred day moving average price of $10.27. Entrada Therapeutics, Inc. has a one year low of $6.48 and a one year high of $21.79. The stock has a market cap of $248.57 million, a price-to-earnings ratio of 8.09 and a beta of -0.11.

Entrada Therapeutics (NASDAQ:TRDA) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.36. Entrada Therapeutics had a return on equity of 5.84% and a net margin of 14.39%. The company had revenue of $8.75 million during the quarter, compared to the consensus estimate of $10.98 million. Research analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRDA shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Entrada Therapeutics in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Entrada Therapeutics has a consensus rating of “Buy” and a consensus price target of $25.67.

Insiders Place Their Bets

In related news, Director Kush Parmar sold 27,000 shares of the business’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $202,500.00. Following the completion of the transaction, the director owned 1,093,313 shares of the company’s stock, valued at $8,199,847.50. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the business’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $52,012.50. Following the transaction, the insider directly owned 1,093,313 shares of the company’s stock, valued at approximately $8,199,847.50. The trade was a 0.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,000 shares of company stock valued at $1,782,000 in the last three months. Insiders own 8.11% of the company’s stock.

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.