Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.00.

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Friday, March 27th. Oppenheimer boosted their price target on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday. Guggenheim upgraded shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th.

Insider Transactions at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 11,388 shares of the business’s stock in a transaction dated 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 directly owned 121,510 shares in the company, valued at $1,582,060.20. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Nathan J. Dowden sold 11,894 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was 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 in the company, valued at approximately $2,591,573.40. This trade represents a 5.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 41,975 shares of company stock worth $540,444. Company insiders own 8.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRDA. Royce & Associates LP grew its position in Entrada Therapeutics by 54.8% during the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock worth $2,004,000 after buying an additional 122,256 shares during the period. GSA Capital Partners LLP acquired a new position in Entrada Therapeutics during the third quarter worth about $325,000. Cantor Fitzgerald L. P. acquired a new position in Entrada Therapeutics during the third quarter worth about $391,000. AXQ Capital LP acquired a new position in Entrada Therapeutics during the third quarter worth about $67,000. Finally, Man Group plc acquired a new position in Entrada Therapeutics during the second quarter worth about $113,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $13.85 on Wednesday. The company has a 50-day simple moving average of $11.91 and a 200-day simple moving average of $9.84. Entrada Therapeutics has a one year low of $4.93 and a one year high of $14.00. The stock has a market capitalization of $530.18 million, a price-to-earnings ratio of -4.00 and a beta of -0.15.

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

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.