Corton Capital Inc. Buys Shares of 28,755 Entrada Therapeutics, Inc. $TRDA

Corton Capital Inc. bought a new position in Entrada Therapeutics, Inc. (NASDAQ:TRDA) during the 2nd quarter, HoldingsChannel reports. The firm bought 28,755 shares of the company’s stock, valued at approximately $193,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRDA. Allspring Global Investments Holdings LLC increased its position in shares of Entrada Therapeutics by 53.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,020 shares of the company’s stock valued at $149,000 after buying an additional 5,896 shares in the last quarter. Merck & Co. Inc. acquired a new position in Entrada Therapeutics in the first quarter valued at about $15,728,000. Strs Ohio bought a new stake in shares of Entrada Therapeutics in the first quarter worth about $378,000. American Century Companies Inc. raised its position in shares of Entrada Therapeutics by 13.5% during the first quarter. American Century Companies Inc. now owns 67,793 shares of the company’s stock worth $613,000 after purchasing an additional 8,083 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Entrada Therapeutics by 26.9% during the 1st quarter. Mackenzie Financial Corp now owns 18,396 shares of the company’s stock valued at $166,000 after purchasing an additional 3,896 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Entrada Therapeutics in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Entrada Therapeutics to a “hold” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Entrada Therapeutics Stock Down 2.4%

Shares of TRDA opened at $6.62 on Wednesday. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $21.79. The stock has a market capitalization of $251.80 million, a P/E ratio of -3.72 and a beta of -0.09. The company has a 50 day moving average of $5.88 and a 200-day moving average of $6.73.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Wednesday, August 6th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.18). The business had revenue of $1.98 million for the quarter, compared to analyst estimates of $8.17 million. Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%. On average, sell-side analysts anticipate that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current fiscal year.

Entrada Therapeutics 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.