Entrada Therapeutics (NASDAQ:TRDA) Trading 7.6% Higher – Should You Buy?

Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s stock price was up 7.6% during trading on Monday . The company traded as high as $15.49 and last traded at $15.6010. Approximately 41,940 shares changed hands during trading, a decline of 80% from the average daily volume of 211,064 shares. The stock had previously closed at $14.50.

Analyst Ratings Changes

A number of research firms have recently issued reports on TRDA. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Entrada Therapeutics in a report on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a “strong-buy” rating in a report on Wednesday, February 11th. Oppenheimer increased their target price on Entrada Therapeutics from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Cantor Fitzgerald began coverage on Entrada Therapeutics in a report on Wednesday, April 1st. They issued an “overweight” rating for the company. Finally, Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Entrada Therapeutics Price Performance

The company has a fifty day moving average of $12.72 and a 200-day moving average of $10.75. The firm has a market capitalization of $612.98 million, a PE ratio of -4.56 and a beta of -0.09.

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

Insider Buying and Selling at Entrada Therapeutics

In related news, COO Nathan J. Dowden sold 11,894 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total transaction of $155,216.70. Following the completion of the sale, the chief operating officer directly owned 198,588 shares in the company, valued at approximately $2,591,573.40. This trade represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kory James Wentworth sold 2,500 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total value of $32,375.00. Following the sale, the chief financial officer owned 119,010 shares of the company’s stock, valued at approximately $1,541,179.50. This represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 41,975 shares of company stock valued at $540,444. 8.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Hedge funds have recently bought and sold shares of the business. State of Wyoming increased its position in Entrada Therapeutics by 130.9% during the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock worth $51,000 after buying an additional 4,295 shares during the last quarter. Russell Investments Group Ltd. increased its position in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after buying an additional 3,707 shares during the last quarter. AXQ Capital LP acquired a new position in Entrada Therapeutics during the third quarter worth $67,000. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics during the second quarter worth $68,000. Finally, Inscription Capital LLC acquired a new position in Entrada Therapeutics during the third quarter worth $69,000. 86.39% of the stock is 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.