MPM Asset Management LLC Sells 44,722 Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA)

MPM Asset Management LLC cut its stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,381,062 shares of the company's stock after selling 44,722 shares during the period. Entrada Therapeutics makes up 60.9% of MPM Asset Management LLC's holdings, making the stock its largest position. MPM Asset Management LLC owned approximately 11.71% of Entrada Therapeutics worth $75,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in shares of Entrada Therapeutics by 40.8% during the 4th quarter. Lazard Asset Management LLC now owns 55,517 shares of the company's stock worth $959,000 after buying an additional 16,076 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Entrada Therapeutics by 5.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 212,717 shares of the company's stock worth $3,678,000 after purchasing an additional 10,914 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Entrada Therapeutics by 21.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company's stock worth $36,011,000 after purchasing an additional 368,908 shares during the period. Deutsche Bank AG increased its holdings in shares of Entrada Therapeutics by 55.5% during the fourth quarter. Deutsche Bank AG now owns 21,740 shares of the company's stock worth $376,000 after purchasing an additional 7,757 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Entrada Therapeutics by 4.9% in the 4th quarter. Bank of America Corp DE now owns 35,721 shares of the company's stock valued at $618,000 after purchasing an additional 1,660 shares in the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Entrada Therapeutics in a report on Monday, March 31st.

Entrada Therapeutics Trading Down 1.3%

Entrada Therapeutics stock traded down $0.10 during mid-day trading on Monday, reaching $7.99. The company had a trading volume of 59,176 shares, compared to its average volume of 129,459. Entrada Therapeutics, Inc. has a fifty-two week low of $7.10 and a fifty-two week high of $21.79. The company has a market cap of $303.17 million, a P/E ratio of 5.07 and a beta of 0.04. The business has a fifty day simple moving average of $8.94 and a 200 day simple moving average of $13.40.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.36. The business had revenue of $8.75 million during the quarter, compared to analyst estimates of $10.98 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. Research 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.