Wall Street Zen Upgrades Entrada Therapeutics (NASDAQ:TRDA) to Hold

Entrada Therapeutics (NASDAQ:TRDA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday, Wall Street Zen reports.

TRDA has been the topic of several other research reports. HC Wainwright reiterated a “neutral” rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Weiss Ratings raised shares of Entrada Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, November 4th. UBS Group reiterated a “neutral” rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. Finally, Roth Capital reissued a “buy” rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Entrada Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $17.75.

Entrada Therapeutics Stock Up 11.9%

Shares of NASDAQ TRDA opened at $5.25 on Monday. The firm’s fifty day moving average is $5.71 and its 200 day moving average is $8.51. Entrada Therapeutics has a 52 week low of $4.11 and a 52 week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.07. The company had revenue of $0.91 million for the quarter, compared to the consensus estimate of $2.30 million. Entrada Therapeutics had a negative return on equity of 64.00% and a negative net margin of 4,057.98%. Equities research analysts expect that Entrada Therapeutics will post -3.91 EPS for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.06, for a total value of $102,857.14. Following the sale, the insider directly owned 4,318,348 shares of the company’s stock, valued at approximately $30,487,536.88. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total value of $205,607.81. Following the transaction, the insider owned 3,885,115 shares of the company’s stock, valued at $27,700,869.95. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 495,947 shares of company stock worth $3,600,470 over the last three months. Corporate insiders own 9.49% of the company’s stock.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. 5AM Venture Management LLC purchased a new position in Entrada Therapeutics in the 2nd quarter worth about $29,854,949. BlackRock Inc. bought a new position in Entrada Therapeutics in the second quarter valued at about $19,013,000. Dimensional Fund Advisors LP boosted its position in Entrada Therapeutics by 18.7% in the first quarter. Dimensional Fund Advisors LP now owns 324,471 shares of the company’s stock worth $4,092,000 after purchasing an additional 51,093 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Entrada Therapeutics during the 2nd quarter valued at about $2,212,232. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Entrada Therapeutics by 24.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 116,596 shares of the company’s stock valued at $740,000 after purchasing an additional 23,058 shares during the period. Institutional investors own 86.39% of the company’s stock.

About Entrada Therapeutics

Entrada Therapeutics, Inc. (NASDAQ:TRDA) is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company’s approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments. Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.