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

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.75.

Several analysts have recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Guggenheim reduced their price objective on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, HC Wainwright lowered Entrada Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 8th.

Insiders Place Their Bets

In related news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the insider owned 2,848,310 shares in the company, valued at $19,738,788.30. This represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bioventures 2014 L.P. Mpm sold 26,522 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $7.54, for a total value of $199,975.88. Following the completion of the transaction, the insider owned 4,332,917 shares of the company’s stock, valued at approximately $32,670,194.18. This represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 513,728 shares of company stock worth $3,586,368. 9.49% of the stock is owned by company insiders.

Institutional Trading of Entrada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TRDA. Alliancebernstein L.P. grew its position in shares of Entrada Therapeutics by 7.1% in the third quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock valued at $141,000 after purchasing an additional 1,620 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Entrada Therapeutics by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock worth $246,000 after buying an additional 1,970 shares during the period. Great Lakes Advisors LLC lifted its position in Entrada Therapeutics by 5.5% during the fourth quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock worth $445,000 after buying an additional 2,239 shares during the period. Quadrature Capital Ltd boosted its stake in Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after buying an additional 2,424 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Entrada Therapeutics by 3.6% in the 2nd quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock worth $505,000 after buying an additional 2,631 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock opened at $7.00 on Friday. Entrada Therapeutics has a fifty-two week low of $5.02 and a fifty-two week high of $16.45. The company has a market capitalization of $272.58 million, a P/E ratio of -1.77 and a beta of -0.26. The stock has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $9.32.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.32 million. As a group, analysts forecast that Entrada Therapeutics will post -4.03 earnings per share for the current 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.