Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Average Price Target of $17.75 According to Analysts

Entrada Therapeutics, Inc. (NASDAQ:TRDA) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.75.

A number of research analysts have recently commented on the company. Weiss Ratings lowered Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 16th. Roth Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. 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 research report on Monday, June 8th. Finally, Wall Street Zen cut shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday.

Insider Activity

In related news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the insider owned 2,848,310 shares in the company, valued at $19,738,788.30. This trade represents a 3.87% 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. Also, Director Kush Parmar sold 114,756 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total transaction of $795,259.08. Following the transaction, the director owned 2,848,310 shares in the company, valued at $19,738,788.30. This represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 946,961 shares of company stock worth $6,725,291 over the last three months. Corporate insiders own 9.49% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently modified their holdings of TRDA. Odyssean LLC bought a new stake in shares of Entrada Therapeutics in the 2nd quarter worth $230,000. Nantahala Capital Management LLC bought a new position in Entrada Therapeutics during the second quarter valued at about $2,212,232. Public Employees Retirement System of Ohio bought a new position in Entrada Therapeutics during the second quarter valued at about $276,000. Bank of America Corp DE acquired a new position in Entrada Therapeutics during the second quarter worth about $426,000. Finally, 5AM Venture Management LLC acquired a new position in Entrada Therapeutics during the second quarter worth about $29,854,949. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $6.16 on Wednesday. Entrada Therapeutics has a 12-month low of $5.55 and a 12-month high of $16.45. The firm has a market capitalization of $239.87 million, a price-to-earnings ratio of -1.56 and a beta of -0.25. The business has a 50 day simple moving average of $6.92 and a 200 day simple moving average of $8.64.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share 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 for the quarter, compared to the consensus estimate of $2.32 million. On average, equities analysts anticipate that Entrada Therapeutics will post -4.03 EPS for the current fiscal year.

About Entrada Therapeutics

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.