Millennium Management LLC Sells 98,416 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Millennium Management LLC reduced its position in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) by 88.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,527 shares of the company's stock after selling 98,416 shares during the quarter. Millennium Management LLC's holdings in Entrada Therapeutics were worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRDA. KLP Kapitalforvaltning AS acquired a new stake in shares of Entrada Therapeutics in the 4th quarter valued at $36,000. BNP Paribas Financial Markets bought a new position in Entrada Therapeutics in the 4th quarter valued at approximately $57,000. Virtus ETF Advisers LLC acquired a new position in shares of Entrada Therapeutics during the fourth quarter worth $68,000. AlphaQuest LLC acquired a new stake in shares of Entrada Therapeutics in the fourth quarter valued at about $70,000. Finally, Russell Investments Group Ltd. increased its position in Entrada Therapeutics by 53,455.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,820 shares of the company's stock valued at $83,000 after purchasing an additional 4,811 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research note on Tuesday, May 20th.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA traded down $0.05 during trading on Thursday, reaching $7.85. 76,885 shares of the stock were exchanged, compared to its average volume of 133,560. The stock has a fifty day moving average of $8.21 and a two-hundred day moving average of $12.06. Entrada Therapeutics, Inc. has a 1-year low of $7.10 and a 1-year high of $21.79. The firm has a market cap of $297.93 million, a price-to-earnings ratio of 4.94 and a beta of -0.06.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.36. Entrada Therapeutics had a net margin of 25.53% and a return on equity of 16.11%. The business had revenue of $8.75 million for the quarter, compared to analysts' expectations of $10.98 million. Sell-side analysts forecast that Entrada Therapeutics, Inc. will post 1.12 EPS for the current year.

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.