Entrada Therapeutics (NASDAQ:TRDA) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Entrada Therapeutics from “Hold” to “Sell.” Despite the downgrade, the broader analyst consensus remains “Hold,” with four Buy, two Hold, and one Sell rating and a $17.75 consensus price target.
• Entrada shares opened at $4.53, near their 12-month low of $4.11 and below their 50-day and 200-day moving averages. The company also missed quarterly expectations, reporting a $1.01 per-share loss versus a $0.97 expected loss and revenue of $0.90 million versus $2.32 million estimated.
• Insiders sold 714,013 shares worth approximately $5.1 million over the past 90 days, while institutional investors and hedge funds own 86.39% of the company.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other brokerages have also issued reports on TRDA. HC Wainwright reaffirmed a "neutral" rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. Weiss Ratings downgraded Entrada Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 16th. UBS Group restated a "neutral" rating on shares of Entrada Therapeutics in a research note on Monday, October 19th. Finally, Roth Capital restated a "buy" rating and set a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Entrada Therapeutics presently has an average rating of "Hold" and a consensus target price of $17.75.

Entrada Therapeutics Stock Up 3.0%

Shares of Entrada Therapeutics stock opened at $4.53 on Friday. The firm's fifty day simple moving average is $6.04 and its 200-day simple moving average is $8.72. Entrada Therapeutics has a 12 month low of $4.11 and a 12 month high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. The company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.32 million. Equities analysts predict that Entrada Therapeutics will post -4.03 EPS for the current year.

Insider Transactions at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value of $102,857.14. Following the transaction, the insider owned 4,318,348 shares in the company, valued at approximately $30,487,536.88. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the business's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $7.13, for a total value of $205,607.81. Following the sale, the insider owned 3,885,115 shares in the company, valued at approximately $27,700,869.95. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 714,013 shares of company stock worth $5,111,237 over the last 90 days. 9.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRDA. 5AM Venture Management LLC acquired a new stake in Entrada Therapeutics in the 2nd quarter worth approximately $29,854,949. BlackRock Inc. acquired a new position in Entrada Therapeutics during the second quarter valued at approximately $19,013,000. Dimensional Fund Advisors LP raised its position in shares of Entrada Therapeutics by 18.7% in the first quarter. Dimensional Fund Advisors LP now owns 324,471 shares of the company's stock valued at $4,092,000 after purchasing an additional 51,093 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $2,212,232. Finally, GSA Capital Partners LLP bought a new position in shares of Entrada Therapeutics in the second quarter valued at approximately $648,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc NASDAQ: TRDA is a biotechnology company focused on developing therapeutics designed to enter cells and address diseases caused by abnormal or missing intracellular proteins. The company's approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic payloads into target cells while helping them escape the endosome, a cellular compartment that can limit the effectiveness of some treatments.

Entrada is developing EEV-based medicines for serious diseases, particularly genetic and neuromuscular conditions.

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