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

Wall Street Zen downgraded shares of Entrada Therapeutics (NASDAQ:TRDA) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Several other equities analysts have also weighed in on TRDA. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a report on Monday, December 29th. Oppenheimer initiated coverage on Entrada Therapeutics in a research note on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Entrada Therapeutics Stock Down 1.3%

Shares of TRDA opened at $11.77 on Friday. The company’s fifty day moving average is $11.65 and its 200-day moving average is $9.50. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $13.65. The firm has a market cap of $450.56 million, a price-to-earnings ratio of -3.40 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.38. The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. As a group, research analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Nathan J. Dowden sold 11,894 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total transaction of $155,216.70. Following the transaction, the chief operating officer owned 198,588 shares of the company’s stock, valued at approximately $2,591,573.40. The trade was a 5.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kory James Wentworth sold 11,388 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $13.02, for a total transaction of $148,271.76. Following the transaction, the chief financial officer owned 121,510 shares of the company’s stock, valued at approximately $1,582,060.20. The trade was a 8.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 39,475 shares of company stock valued at $508,069. Company insiders own 7.59% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TRDA. Millennium Management LLC lifted its holdings in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company’s stock worth $4,852,000 after acquiring an additional 666,287 shares during the period. Citadel Advisors LLC boosted its position in shares of Entrada Therapeutics by 234.5% during the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company’s stock valued at $1,947,000 after acquiring an additional 235,384 shares in the last quarter. Baker BROS. Advisors LP increased its stake 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 valued at $52,148,000 after acquiring an additional 206,911 shares during the period. Qube Research & Technologies Ltd increased its stake in Entrada Therapeutics by 115.3% in the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company’s stock valued at $1,670,000 after acquiring an additional 154,143 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Entrada Therapeutics by 4,767.4% in the third quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company’s stock worth $860,000 after purchasing an additional 145,167 shares in the last quarter. Institutional investors 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.