Massachusetts Financial Services Co. MA Acquires New Position in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Massachusetts Financial Services Co. MA bought a new position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) in the 3rd quarter, HoldingsChannel reports. The fund bought 69,394 shares of the company’s stock, valued at approximately $1,109,000.

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

Analysts Set New Price Targets

TRDA has been the topic of several recent analyst reports. Oppenheimer lifted their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. HC Wainwright lifted their price objective on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Entrada Therapeutics Price Performance

Entrada Therapeutics stock opened at $19.83 on Thursday. Entrada Therapeutics, Inc. has a 12-month low of $11.35 and a 12-month high of $20.49. The stock has a market capitalization of $742.04 million, a PE ratio of 12.50 and a beta of -0.26. The firm has a 50 day simple moving average of $17.26 and a 200-day simple moving average of $16.18.

Insiders Place Their Bets

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 8,637 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $19.98, for a total value of $172,567.26. Following the sale, the chief financial officer now directly owns 73,849 shares in the company, valued at approximately $1,475,503.02. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natarajan Sethuraman sold 2,642 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares of the company’s stock, valued at approximately $2,773,783.44. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,933 shares of company stock worth $410,816 over the last ninety days. Company insiders own 7.59% 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.