Entrada Therapeutics (NASDAQ:TRDA) Reaches New 12-Month High on Earnings Beat

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shares reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $16.45 and last traded at $16.03, with a volume of 412914 shares changing hands. The stock had previously closed at $15.75.

The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.11. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $2.92 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TRDA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. Wall Street Zen cut Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Guggenheim raised Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Cantor Fitzgerald assumed coverage on Entrada Therapeutics in a research report on Wednesday, April 1st. They issued an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 2,500 shares of Entrada Therapeutics stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total transaction of $32,375.00. Following the completion of the transaction, the chief financial officer directly owned 119,010 shares of the company’s stock, valued at approximately $1,541,179.50. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Natarajan Sethuraman sold 25,907 shares of Entrada Therapeutics 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 transaction, the insider directly owned 216,317 shares of the company’s stock, valued at approximately $3,329,118.63. The trade was a 10.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 82,882 shares of company stock valued at $1,169,103 in the last 90 days. 9.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRDA. Geode Capital Management LLC increased its stake in shares of Entrada Therapeutics by 7.2% in the second quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after buying an additional 42,479 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Entrada Therapeutics by 8.3% in the second quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after buying an additional 2,982 shares in the last quarter. American Century Companies Inc. increased its position in Entrada Therapeutics by 10.8% in the second quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock worth $505,000 after purchasing an additional 7,301 shares during the period. Prudential Financial Inc. increased its position in Entrada Therapeutics by 23.4% in the second quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock worth $190,000 after purchasing an additional 5,370 shares during the period. Finally, Invesco Ltd. raised its holdings in Entrada Therapeutics by 34.2% during the 2nd quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock worth $150,000 after purchasing an additional 5,702 shares during the last quarter. 86.39% of the stock is owned by institutional investors.

Entrada Therapeutics Trading Up 1.8%

The stock has a market capitalization of $622.30 million, a P/E ratio of -4.63 and a beta of -0.09. The company has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $10.89.

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.