Cantor Fitzgerald L. P. Buys New Position in Entrada Therapeutics, Inc. $TRDA

Cantor Fitzgerald L. P. bought a new position in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) in the 3rd quarter, Holdings Channel reports. The fund bought 67,334 shares of the company’s stock, valued at approximately $391,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake in Entrada Therapeutics by 43.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 315,810 shares of the company’s stock valued at $1,832,000 after buying an additional 95,074 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Entrada Therapeutics during the 3rd quarter worth approximately $82,000. XTX Topco Ltd bought a new stake in shares of Entrada Therapeutics in the 3rd quarter valued at $540,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Entrada Therapeutics during the 3rd quarter valued at $108,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Entrada Therapeutics by 115.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after acquiring an additional 154,143 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kory James Wentworth sold 11,388 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total transaction of $148,271.76. Following the completion of the sale, the chief financial officer directly owned 121,510 shares of the company’s stock, valued at $1,582,060.20. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Nathan J. Dowden sold 11,894 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total transaction of $155,216.70. Following the completion of the sale, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. This represents a 5.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 39,475 shares of company stock valued at $508,069. 8.11% of the stock is currently owned by insiders.

Entrada Therapeutics Trading Down 5.6%

NASDAQ TRDA opened at $11.88 on Thursday. The company has a fifty day simple moving average of $11.45 and a 200 day simple moving average of $9.11. Entrada Therapeutics, Inc. has a 12-month low of $4.93 and a 12-month high of $13.65. The company has a market cap of $454.77 million, a P/E ratio of -3.43 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. Sell-side analysts predict that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

TRDA has been the subject of a number of research reports. Guggenheim upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Monday, December 29th. Wall Street Zen upgraded Entrada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Oppenheimer started coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Entrada Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Entrada Therapeutics Company Profile

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.