72,520 Shares in Entrada Therapeutics, Inc. $TRDA Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,520 shares of the company’s stock, valued at approximately $534,000. The Manufacturers Life Insurance Company owned about 0.19% of Entrada Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. State of Wyoming acquired a new stake in Entrada Therapeutics during the second quarter worth approximately $37,000. Russell Investments Group Ltd. grew its position in shares of Entrada Therapeutics by 72.7% in the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after purchasing an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $68,000. IHT Wealth Management LLC acquired a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $72,000. Finally, Jain Global LLC bought a new position in shares of Entrada Therapeutics during the third quarter worth approximately $69,000. 86.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Entrada Therapeutics news, Director Kush Parmar sold 114,756 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the transaction, the director owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. The trade was a 3.87% 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 the SEC website. Also, major shareholder Bioventures 2014 L.P. Mpm sold 26,522 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $7.54, for a total transaction of $199,975.88. Following the completion of the transaction, the insider directly owned 4,332,917 shares of the company’s stock, valued at $32,670,194.18. This trade represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 687,124 shares of company stock worth $4,819,524. Insiders own 9.49% of the company’s stock.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $7.13 on Monday. The company’s 50 day simple moving average is $7.06 and its 200 day simple moving average is $9.18. The stock has a market capitalization of $277.64 million, a price-to-earnings ratio of -1.80 and a beta of -0.25. Entrada Therapeutics, Inc. has a 1 year low of $5.02 and a 1 year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.32 million. As a group, analysts anticipate that Entrada Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TRDA has been the subject of several recent research reports. Weiss Ratings upgraded Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Guggenheim dropped their target price on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Roth Capital reissued a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Entrada Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.75.

About Entrada Therapeutics

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.