Entrada Therapeutics (NASDAQ:TRDA) Sets New 52-Week High – What’s Next?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $14.56 and last traded at $14.50, with a volume of 322826 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

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

Entrada Therapeutics Trading Up 7.4%

The stock has a market cap of $562.89 million, a P/E ratio of -4.19 and a beta of -0.09. The company has a 50-day moving average price of $12.72 and a two-hundred day moving average price of $10.72.

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

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 11,388 shares of the company’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 transaction, the chief financial officer owned 121,510 shares of the company’s stock, valued at $1,582,060.20. This represents a 8.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Nathan J. Dowden sold 11,894 shares of the company’s stock in a transaction on 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 trade represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,975 shares of company stock worth $540,444. Corporate insiders own 8.11% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently bought and sold shares of TRDA. Geode Capital Management LLC grew its position in Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company’s stock valued at $4,245,000 after acquiring an additional 42,479 shares during the last quarter. Rhumbline Advisers grew its position in Entrada Therapeutics by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 39,095 shares of the company’s stock valued at $263,000 after acquiring an additional 2,982 shares during the last quarter. American Century Companies Inc. grew its position in Entrada Therapeutics by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 75,094 shares of the company’s stock valued at $505,000 after acquiring an additional 7,301 shares during the last quarter. Prudential Financial Inc. grew its position in Entrada Therapeutics by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 28,340 shares of the company’s stock valued at $190,000 after acquiring an additional 5,370 shares during the last quarter. Finally, Invesco Ltd. grew its position in Entrada Therapeutics by 34.2% in the 2nd quarter. Invesco Ltd. now owns 22,393 shares of the company’s stock valued at $150,000 after acquiring an additional 5,702 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

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.