Connor Clark & Lunn Investment Management Ltd. Has $104,000 Stake in Entrada Therapeutics, Inc. $TRDA

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 86.5%, selling 74,068 shares and now holding 11,553 shares valued at $104,000.
• Institutional ownership in Entrada Therapeutics stands at 86.39%, with several firms increasing their stakes, including Allspring Global Investments which grew its position by 53.0%.
• Analysts provide mixed ratings on Entrada Therapeutics, with one cutting the stock from "hold" to "sell," while another maintains a "buy" rating with a price target of $20.00.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) by 86.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,553 shares of the company's stock after selling 74,068 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Entrada Therapeutics were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TRDA. BNP Paribas Financial Markets bought a new position in shares of Entrada Therapeutics during the fourth quarter worth about $57,000. Virtus ETF Advisers LLC bought a new position in shares of Entrada Therapeutics during the fourth quarter worth about $68,000. Russell Investments Group Ltd. grew its holdings in shares of Entrada Therapeutics by 53,455.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock worth $83,000 after buying an additional 4,811 shares in the last quarter. State of Wyoming bought a new position in shares of Entrada Therapeutics during the fourth quarter worth about $104,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Entrada Therapeutics during the first quarter worth about $121,000. 86.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Ventures V. L.P. 5Am sold 6,935 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $7.50, for a total value of $52,012.50. Following the completion of the sale, the insider directly owned 1,093,313 shares of the company's stock, valued at $8,199,847.50. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kush Parmar sold 27,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $7.50, for a total value of $202,500.00. Following the completion of the sale, the director directly owned 1,093,313 shares of the company's stock, valued at approximately $8,199,847.50. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,000 shares of company stock valued at $1,782,000. Insiders own 7.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRDA. Zacks Research upgraded Entrada Therapeutics to a "hold" rating in a report on Friday, August 8th. Wall Street Zen cut Entrada Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of Entrada Therapeutics in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $25.67.

Entrada Therapeutics Stock Performance

NASDAQ TRDA traded down $0.02 during trading hours on Tuesday, hitting $5.61. 135,031 shares of the company traded hands, compared to its average volume of 279,031. The business's 50-day moving average is $6.31 and its 200-day moving average is $8.34. 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 $213.39 million, a price-to-earnings ratio of -3.15 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.18). Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. The business had revenue of $1.98 million during the quarter, compared to analyst estimates of $8.17 million. Analysts predict that Entrada Therapeutics, Inc. will post 1.12 EPS for the current 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.