Entrada Therapeutics (NASDAQ:TRDA) Trading Up 7.6% – Still a Buy?

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) were up 7.6% during trading on Monday . The stock traded as high as $15.49 and last traded at $15.6010. Approximately 41,940 shares changed hands during trading, a decline of 80% from the average daily volume of 211,064 shares. The stock had previously closed at $14.50.

Analysts Set New Price Targets

Several analysts recently commented on TRDA shares. Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a research note on Wednesday, April 1st. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Oppenheimer upped their target price on Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Entrada Therapeutics Stock Performance

The firm has a 50 day moving average of $12.91 and a 200-day moving average of $10.89. The stock has a market capitalization of $622.28 million, a PE ratio of -4.63 and a beta of -0.09.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.38. The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, sell-side analysts predict that Entrada Therapeutics, Inc. will post -4.22 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Natarajan Sethuraman sold 25,907 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $15.39, for a total value of $398,708.73. Following the completion of the sale, the insider directly owned 216,317 shares of the company’s stock, valued at approximately $3,329,118.63. This represents a 10.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kory James Wentworth sold 2,500 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total value of $32,375.00. Following the completion of the sale, the chief financial officer directly owned 119,010 shares of the company’s stock, valued at approximately $1,541,179.50. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 82,882 shares of company stock valued at $1,169,103. Corporate insiders own 9.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRDA. Baker BROS. Advisors LP increased its holdings in Entrada Therapeutics by 4.3% in the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock worth $52,148,000 after buying an additional 206,911 shares during the last quarter. Wellington Management Group LLP raised its position in Entrada Therapeutics by 9.5% during the fourth quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company’s stock valued at $10,740,000 after acquiring an additional 90,339 shares in the last quarter. Millennium Management LLC raised its position in Entrada Therapeutics by 391.2% during the third quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock valued at $4,852,000 after acquiring an additional 666,287 shares in the last quarter. Geode Capital Management LLC raised its position in Entrada Therapeutics by 7.2% during the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after acquiring an additional 42,479 shares in the last quarter. Finally, State Street Corp raised its position in Entrada Therapeutics by 2.0% during the fourth quarter. State Street Corp now owns 508,789 shares of the company’s stock valued at $5,230,000 after acquiring an additional 10,174 shares in the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

About Entrada Therapeutics

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.