Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives Average Recommendation of “Moderate Buy” from Analysts

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $18.25.

TRDA has been the subject of a number of research reports. Oppenheimer increased their target price on Entrada Therapeutics from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Wall Street Zen downgraded Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Cantor Fitzgerald assumed coverage on Entrada Therapeutics in a report on Wednesday, April 1st. They issued an “overweight” rating for the company.

Entrada Therapeutics Trading Up 6.9%

Entrada Therapeutics stock opened at $6.04 on Thursday. The business has a 50-day moving average of $11.80 and a 200-day moving average of $10.89. The firm has a market capitalization of $234.47 million, a P/E ratio of -1.51 and a beta of -0.09. Entrada Therapeutics has a 1 year low of $4.93 and a 1 year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.11. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The company had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $2.92 million. Research analysts anticipate that Entrada Therapeutics will post -4.12 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TRDA. State of Wyoming raised its holdings in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after acquiring an additional 4,295 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after acquiring an additional 3,707 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Entrada Therapeutics during the second quarter worth about $68,000. IHT Wealth Management LLC acquired a new stake in shares of Entrada Therapeutics during the 2nd quarter worth approximately $72,000. Finally, AXQ Capital LP bought a new position in shares of Entrada Therapeutics in the 3rd quarter valued at $67,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.