Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.75.

Several equities research analysts have weighed in on TRDA shares. Guggenheim cut their price target on Entrada Therapeutics from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Weiss Ratings downgraded Entrada Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Finally, HC Wainwright lowered shares of Entrada Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th.

Entrada Therapeutics Stock Down 3.7%

Shares of TRDA stock opened at $7.00 on Friday. The firm has a 50 day moving average of $7.08 and a two-hundred day moving average of $9.32. The stock has a market capitalization of $272.58 million, a PE ratio of -1.77 and a beta of -0.26. Entrada Therapeutics has a 52 week low of $5.02 and a 52 week high of $16.45.

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

Insiders Place Their Bets

In other news, Director Kush Parmar sold 114,756 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the director directly owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of Entrada Therapeutics stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the sale, the insider directly owned 2,848,310 shares of the company’s stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 513,728 shares of company stock worth $3,586,368 in the last 90 days. Corporate insiders own 9.49% of the company’s stock.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TRDA. Alliancebernstein L.P. boosted its position in shares of Entrada Therapeutics by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 24,320 shares of the company’s stock worth $141,000 after acquiring an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Entrada Therapeutics by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company’s stock valued at $246,000 after acquiring an additional 1,970 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Entrada Therapeutics by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company’s stock worth $445,000 after acquiring an additional 2,239 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company’s stock worth $209,000 after acquiring an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Entrada Therapeutics by 3.6% during the second quarter. First Trust Advisors LP now owns 75,120 shares of the company’s stock worth $505,000 after purchasing an additional 2,631 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.