Connor Clark & Lunn Investment Management Ltd. Has $2.22 Million Stake in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 132.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,605 shares of the company’s stock after acquiring an additional 78,953 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Entrada Therapeutics worth $2,215,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TRDA. GSA Capital Partners LLP grew its holdings in Entrada Therapeutics by 71.8% during the 3rd quarter. GSA Capital Partners LLP now owns 36,577 shares of the company’s stock worth $585,000 after acquiring an additional 15,284 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Entrada Therapeutics during the third quarter valued at approximately $542,000. US Bancorp DE acquired a new stake in shares of Entrada Therapeutics in the third quarter valued at approximately $42,000. BayBridge Capital Group LLC bought a new position in Entrada Therapeutics in the 3rd quarter worth approximately $464,000. Finally, SG Americas Securities LLC bought a new position in Entrada Therapeutics in the 3rd quarter valued at $156,000. 86.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRDA. Oppenheimer boosted their target price on Entrada Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. HC Wainwright upped their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Entrada Therapeutics Stock Performance

TRDA opened at $19.04 on Tuesday. The company has a fifty day moving average price of $17.07 and a two-hundred day moving average price of $16.12. The firm has a market capitalization of $712.48 million, a PE ratio of 11.82 and a beta of -0.26. Entrada Therapeutics, Inc. has a 52 week low of $11.05 and a 52 week high of $20.49.

Insider Buying and Selling

In related news, insider Natarajan Sethuraman sold 1,409 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.01, for a total transaction of $28,194.09. Following the completion of the transaction, the insider now owns 163,588 shares in the company, valued at approximately $3,273,395.88. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kory James Wentworth sold 8,637 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $19.98, for a total transaction of $172,567.26. Following the completion of the sale, the chief financial officer now owns 73,849 shares in the company, valued at approximately $1,475,503.02. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,933 shares of company stock valued at $410,816 over the last three months. Company insiders own 7.59% 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.