Entrada Therapeutics (NASDAQ:TRDA) Sets New 52-Week High – Time to Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.66 and last traded at $13.3660, with a volume of 121137 shares. The stock had previously closed at $12.62.

Wall Street Analysts Forecast Growth

TRDA has been the subject of several analyst reports. Oppenheimer started coverage on shares of Entrada Therapeutics in a report on Wednesday, January 28th. They issued an “outperform” rating and a $21.00 target price for the company. Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Entrada Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Entrada Therapeutics Stock Performance

The business has a 50 day moving average of $11.76 and a 200-day moving average of $9.60. The company has a market capitalization of $503.38 million, a P/E ratio of -3.80 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA) last issued its earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%.The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. As a group, equities analysts forecast that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the sale, the chief operating officer directly owned 198,588 shares in the company, valued at $2,591,573.40. This represents a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kory James Wentworth sold 11,388 shares of the firm’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 completion of the transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,975 shares of company stock valued at $540,444 over the last 90 days. 8.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Baker BROS. Advisors LP boosted its stake in Entrada Therapeutics by 4.3% during the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company’s stock valued at $52,148,000 after buying an additional 206,911 shares during the period. Wellington Management Group LLP raised its holdings in shares of Entrada Therapeutics by 9.5% in the 4th 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 holdings in shares of Entrada Therapeutics by 391.2% in the 3rd 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 boosted its position in shares of Entrada Therapeutics by 7.2% during the 2nd 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 during the last quarter. Finally, State Street Corp boosted its position in shares of Entrada Therapeutics by 2.0% during the 4th 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 during the last quarter. Hedge funds and other 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.