Entrada Therapeutics (NASDAQ:TRDA) Sets New 52-Week High Following Analyst Upgrade

Entrada Therapeutics, Inc. (NASDAQ:TRDA) reached a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $21.00 to $23.00. Oppenheimer currently has an outperform rating on the stock. Entrada Therapeutics traded as high as $14.00 and last traded at $13.88, with a volume of 197381 shares traded. The stock had previously closed at $13.15.

TRDA has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Entrada Therapeutics in a research note on Wednesday, April 1st. They set an “overweight” rating for the company. Wall Street Zen lowered shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Insider Transactions at Entrada Therapeutics

In related news, CFO Kory James Wentworth sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $12.95, for a total value of $32,375.00. Following the completion of the sale, the chief financial officer directly owned 119,010 shares of the company’s stock, valued at $1,541,179.50. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nathan J. Dowden sold 11,894 shares of the company’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 completion of the sale, the chief operating officer directly owned 198,588 shares of the company’s stock, 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 ninety days, insiders sold 41,975 shares of company stock valued at $540,444. 8.11% of the stock is owned by insiders.

Institutional Trading of Entrada Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming lifted its stake in Entrada Therapeutics by 130.9% in the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after acquiring an additional 4,295 shares during the period. Russell Investments Group Ltd. lifted its stake in Entrada Therapeutics by 72.7% in the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after acquiring an additional 3,707 shares during the period. AXQ Capital LP purchased a new stake in Entrada Therapeutics in the third quarter worth about $67,000. Occudo Quantitative Strategies LP bought a new position in Entrada Therapeutics in the second quarter worth about $68,000. Finally, Inscription Capital LLC bought a new position in Entrada Therapeutics in the third quarter worth about $69,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Entrada Therapeutics Price Performance

The firm has a market capitalization of $548.17 million, a P/E ratio of -4.14 and a beta of -0.15. The stock’s fifty day simple moving average is $11.97 and its 200 day simple moving average is $9.87.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.38. The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. 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.