Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives Average Rating of “Moderate Buy” from Brokerages

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.00.

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Cantor Fitzgerald assumed coverage on Entrada Therapeutics in a report on Wednesday, April 1st. They issued an “overweight” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Oppenheimer increased their price objective on Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Entrada Therapeutics in a report on Friday, March 27th.

Insider Transactions at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 11,388 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total value of $148,271.76. Following the transaction, the chief financial officer directly owned 121,510 shares of the company’s stock, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the completion of the transaction, the chief operating officer directly owned 198,588 shares in the company, valued at $2,591,573.40. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,975 shares of company stock worth $540,444 over the last three months. Corporate insiders own 8.11% of the company’s stock.

Institutional Trading of Entrada Therapeutics

Hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its stake in shares of Entrada Therapeutics by 54.8% in the third quarter. Royce & Associates LP now owns 345,507 shares of the company’s stock worth $2,004,000 after buying an additional 122,256 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Entrada Therapeutics by 735.0% in the third quarter. JPMorgan Chase & Co. now owns 133,878 shares of the company’s stock worth $776,000 after buying an additional 117,844 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Entrada Therapeutics in the third quarter worth about $391,000. GSA Capital Partners LLP purchased a new stake in shares of Entrada Therapeutics in the third quarter worth about $325,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Entrada Therapeutics in the second quarter worth about $68,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Price Performance

Shares of NASDAQ:TRDA opened at $12.63 on Friday. The business’s 50-day moving average is $12.57 and its 200 day moving average is $10.53. Entrada Therapeutics has a 1 year low of $4.93 and a 1 year high of $14.49. The firm has a market capitalization of $483.53 million, a P/E ratio of -3.65 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.38. The company had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, analysts expect that Entrada Therapeutics will post -4.22 EPS for the current year.

About Entrada Therapeutics

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.