Entrada Therapeutics (NASDAQ:TRDA) Sets New 12-Month High After Analyst Upgrade

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s share price hit a new 52-week high during mid-day 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.

Other research analysts also recently issued research reports about the stock. Guggenheim raised shares of Entrada Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 11th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. Cantor Fitzgerald assumed coverage on shares of Entrada Therapeutics in a research report on Wednesday, April 1st. They issued an “overweight” rating on the stock. Finally, Wall Street Zen downgraded shares of Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Insiders Place Their Bets

In related news, COO Nathan J. Dowden sold 11,894 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was 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 owned 198,588 shares in the company, valued at $2,591,573.40. This trade represents a 5.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kory James Wentworth sold 11,388 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total value of $148,271.76. Following the completion of the transaction, the chief financial officer owned 121,510 shares of the company’s stock, valued at $1,582,060.20. This trade represents a 8.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,975 shares of company stock valued at $540,444 in the last 90 days. 8.11% of the stock is currently owned by company insiders.

Institutional Trading of Entrada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming lifted its stake in Entrada Therapeutics by 130.9% during the 2nd quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $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% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock valued at $51,000 after acquiring an additional 3,707 shares during the period. AXQ Capital LP acquired a new stake in Entrada Therapeutics during the 3rd quarter valued at approximately $67,000. Occudo Quantitative Strategies LP acquired a new stake in Entrada Therapeutics during the 2nd quarter valued at approximately $68,000. Finally, Inscription Capital LLC acquired a new stake in Entrada Therapeutics during the 3rd quarter valued at approximately $69,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Stock Performance

The firm’s 50 day simple moving average is $11.91 and its 200 day simple moving average is $9.84. The firm has a market capitalization of $530.18 million, a price-to-earnings ratio of -4.00 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $7.41 million. As a group, sell-side analysts forecast that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current 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.