Entrada Therapeutics, Inc. (NASDAQ:TRDA) Short Interest Down 19.1% in October

Entrada Therapeutics, Inc. (NASDAQ:TRDA) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,650,000 shares, a decrease of 19.1% from the September 30th total of 2,040,000 shares. Approximately 7.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 139,800 shares, the days-to-cover ratio is presently 11.8 days.

Entrada Therapeutics Stock Down 0.5 %

Shares of Entrada Therapeutics stock opened at $17.28 on Wednesday. The business has a 50-day moving average price of $16.16 and a 200-day moving average price of $15.37. The firm has a market cap of $642.82 million, a price-to-earnings ratio of 5.82 and a beta of -0.25. Entrada Therapeutics has a twelve month low of $10.75 and a twelve month high of $18.17.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.90. The company had revenue of $94.69 million for the quarter, compared to the consensus estimate of $55.00 million. Entrada Therapeutics had a return on equity of 35.16% and a net margin of 43.63%. On average, equities analysts expect that Entrada Therapeutics will post 0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective on shares of Entrada Therapeutics in a report on Monday, August 26th. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 14th.

Insider Buying and Selling

In related news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $14.97, for a total transaction of $47,829.15. Following the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kory James Wentworth sold 3,195 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $14.97, for a total transaction of $47,829.15. Following the sale, the chief financial officer now owns 76,486 shares of the company’s stock, valued at $1,144,995.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Natarajan Sethuraman sold 2,642 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.09, for a total value of $39,867.78. Following the sale, the insider now directly owns 183,816 shares in the company, valued at $2,773,783.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,187 shares of company stock valued at $155,947 over the last 90 days. 7.59% of the stock is owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Institutional investors have recently made changes to their positions in the company. US Bancorp DE purchased a new position in Entrada Therapeutics during the 3rd quarter valued at about $42,000. Acadian Asset Management LLC acquired a new position in Entrada Therapeutics during the first quarter worth about $79,000. SG Americas Securities LLC acquired a new stake in shares of Entrada Therapeutics in the 3rd quarter worth approximately $156,000. Allspring Global Investments Holdings LLC boosted its position in shares of Entrada Therapeutics by 427.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,763 shares of the company’s stock worth $209,000 after buying an additional 11,965 shares in the last quarter. Finally, BayBridge Capital Group LLC purchased a new stake in Entrada Therapeutics during the third quarter valued at about $464,000. Hedge funds and other institutional investors own 86.39% 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.