Entrada Therapeutics (NASDAQ:TRDA) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Entrada Therapeutics (NASDAQ:TRDA) from a hold rating to a sell rating in a research report released on Sunday,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. UBS Group reissued a “neutral” rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Finally, HC Wainwright restated a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.75.

Entrada Therapeutics Trading Down 7.6%

Shares of Entrada Therapeutics stock opened at $4.72 on Friday. The firm’s 50-day simple moving average is $5.94 and its 200-day simple moving average is $8.67. Entrada Therapeutics has a twelve month low of $4.11 and a twelve month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. On average, equities analysts forecast that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of Entrada Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total transaction of $205,607.81. Following the completion of the transaction, the insider directly owned 3,885,115 shares of the company’s stock, valued at $27,700,869.95. This trade represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total transaction of $102,857.14. Following the transaction, the insider directly owned 4,318,348 shares of the company’s stock, valued at $30,487,536.88. This represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 714,013 shares of company stock worth $5,111,237. 9.49% of the stock is owned by insiders.

Institutional Trading of Entrada Therapeutics

Several large investors have recently added to or reduced their stakes in TRDA. BlackRock Inc. bought a new stake in Entrada Therapeutics during the 2nd quarter worth approximately $19,013,000. Nantahala Capital Management LLC acquired a new stake in Entrada Therapeutics during the 2nd quarter valued at $2,212,232. 5AM Venture Management LLC acquired a new stake in Entrada Therapeutics during the 2nd quarter valued at $29,854,949. GSA Capital Partners LLP acquired a new stake in Entrada Therapeutics during the 2nd quarter valued at $648,000. Finally, Bank of New York Mellon Corp bought a new position in Entrada Therapeutics in the 2nd quarter valued at $582,000. 86.39% of the stock is owned by institutional investors.

About Entrada Therapeutics

Entrada Therapeutics, Inc (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.

Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.