Oppenheimer Begins Coverage on Entrada Therapeutics (NASDAQ:TRDA)

Equities researchers at Oppenheimer initiated coverage on shares of Entrada Therapeutics (NASDAQ:TRDA) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $21.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 90.91% from the stock’s previous close.

A number of other research analysts also recently commented on TRDA. Roth Mkm set a $13.00 price objective on shares of Entrada Therapeutics in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Entrada Therapeutics Trading Down 0.9%

NASDAQ:TRDA opened at $11.00 on Wednesday. The firm has a market capitalization of $420.42 million, a price-to-earnings ratio of -4.42 and a beta of -0.12. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $14.27. The business’s fifty day moving average price is $10.50 and its 200 day moving average price is $7.65.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Entrada Therapeutics had a negative return on equity of 26.42% and a negative net margin of 168.16%.The business had revenue of $1.61 million for the quarter, compared to analyst estimates of $8.62 million. Equities analysts forecast that Entrada Therapeutics will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Entrada Therapeutics news, Director Kush Parmar sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $8.80, for a total transaction of $1,760,000.00. Following the completion of the sale, the director owned 2,963,066 shares of the company’s stock, valued at $26,074,980.80. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kory James Wentworth sold 8,910 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $9.98, for a total transaction of $88,921.80. Following the completion of the sale, the chief financial officer owned 110,026 shares of the company’s stock, valued at $1,098,059.48. The trade was a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 178,044 shares of company stock worth $1,352,568 and sold 408,910 shares worth $3,608,922. Insiders own 7.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC grew its position in shares of Entrada Therapeutics by 239.8% in the second quarter. AlphaQuest LLC now owns 39,625 shares of the company’s stock valued at $266,000 after purchasing an additional 27,963 shares during the last quarter. Corton Capital Inc. bought a new stake in Entrada Therapeutics during the 2nd quarter valued at approximately $193,000. Los Angeles Capital Management LLC grew its holdings in Entrada Therapeutics by 60.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 44,632 shares of the company’s stock valued at $300,000 after buying an additional 16,840 shares during the last quarter. Geode Capital Management LLC increased its position in Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock worth $4,245,000 after buying an additional 42,479 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Entrada Therapeutics by 15.7% during the second quarter. Intech Investment Management LLC now owns 17,702 shares of the company’s stock worth $119,000 after buying an additional 2,397 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics (NASDAQ: TRDA) is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company’s pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.