Entrada Therapeutics (NASDAQ:TRDA) Downgraded by Wall Street Zen to “Sell”

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

Other research analysts have also recently issued reports about the stock. Guggenheim decreased their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 8th. Weiss Ratings cut shares of Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 16th. Finally, Roth Capital reissued a “buy” rating and set a $11.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $6.16 on Friday. The business has a fifty day moving average price of $6.92 and a 200-day moving average price of $8.67. The company has a market capitalization of $239.87 million, a PE ratio of -1.56 and a beta of -0.25. Entrada Therapeutics has a 1-year low of $5.55 and a 1-year high of $16.45.

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

Insider Activity

In other Entrada Therapeutics news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total transaction of $102,857.14. Following the transaction, the insider owned 4,318,348 shares in the company, valued at approximately $30,487,536.88. This represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total transaction of $205,607.81. Following the sale, the insider directly owned 3,885,115 shares in the company, valued at approximately $27,700,869.95. The trade was a 0.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 946,961 shares of company stock valued at $6,725,291 over the last quarter. 9.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Entrada Therapeutics by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock worth $246,000 after purchasing an additional 1,970 shares during the last quarter. Quantinno Capital Management LP grew its position in Entrada Therapeutics by 4.9% in the 1st quarter. Quantinno Capital Management LP now owns 71,018 shares of the company’s stock worth $896,000 after purchasing an additional 3,301 shares during the period. State of Wyoming purchased a new stake in Entrada Therapeutics during the 2nd quarter valued at $37,000. The Manufacturers Life Insurance Company raised its stake in Entrada Therapeutics by 25.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,656 shares of the company’s stock valued at $892,000 after buying an additional 14,111 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of Entrada Therapeutics during the 2nd quarter valued at $114,000. Institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines designed to address diseases caused by dysfunctional proteins inside cells. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic molecules into target cells and help them escape endosomes, cellular compartments that can limit the activity of certain treatments.

Entrada is applying the EEV platform to oligonucleotide-based medicines, including compounds designed to modify RNA and influence the production of disease-associated proteins.