Wed Sep 25 08:14:46 UTC 2024: ## American Century Companies Boosts Stake in Entrada Therapeutics

**New York, NY – September 25, 2024** – American Century Companies Inc. has increased its holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 5.1% in the second quarter, according to the company’s recent SEC filing. The investment firm now owns 384,973 shares of the clinical-stage biotechnology company, representing a 1.14% stake valued at $5,486,000.

This move follows a trend of increased institutional interest in Entrada Therapeutics. Other investors, including New York State Teachers Retirement System, Acadian Asset Management LLC, Allspring Global Investments Holdings LLC, Rhumbline Advisers, and Bank of New York Mellon Corp, have also adjusted their positions in the company’s stock.

Entrada Therapeutics is developing endosomal escape vehicle (EEV) therapeutics for the treatment of neuromuscular diseases. The company’s lead candidates, ENTR-601-44 and ENTR-701, are currently in clinical trials for Duchenne muscular dystrophy and myotonic dystrophy type 1, respectively.

Shares of Entrada Therapeutics opened at $15.40 on Wednesday, with a market cap of $519.89 million.

**Recent Analyst Reports**

HC Wainwright has reiterated a “buy” rating and set a $18.00 price objective for Entrada Therapeutics. Oppenheimer has also maintained an “outperform” rating and issued a $25.00 price target.

**Insider Trading Activity**

Entrada Therapeutics’ CEO, Dipal Doshi, and CFO, Kory James Wentworth, have recently sold shares of the company’s stock. Doshi sold 1,600 shares for $28,496, while Wentworth sold 1,758 shares for $26,282.10. Corporate insiders currently own 7.58% of the company’s stock.

Overall, institutional investors hold a significant stake in Entrada Therapeutics, owning 86.39% of the company’s stock. This trend, combined with positive analyst ratings and ongoing clinical development, suggests continued optimism for the company’s future prospects.

Read More