Entrada Therapeutics (NASDAQ:TRDA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Entrada Therapeutics from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $17.75.
• Entrada reported weaker-than-expected quarterly results, with an adjusted loss of $1.01 per share versus the $0.97 consensus estimate and revenue of $0.90 million against expectations of $2.32 million.
• The stock opened at $6.16 and remains near its one-year low of $5.55; insiders have sold nearly 947,000 shares worth about $6.7 million over the past 90 days.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Guggenheim dropped their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, June 8th. Weiss Ratings cut shares of Entrada Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 16th. Finally, Roth Capital restated a "buy" rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Entrada Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $17.75.

Entrada Therapeutics Price Performance

Shares of NASDAQ TRDA opened at $6.16 on Friday. The company has a 50 day simple moving average of $6.92 and a 200 day simple moving average of $8.67. The firm has a market cap of $239.87 million, a PE ratio of -1.56 and a beta of -0.25. Entrada Therapeutics has a 1 year low of $5.55 and a 1 year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its earnings results 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). Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%.The business had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.32 million. As a group, research analysts anticipate that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $7.06, for a total value of $102,857.14. Following the completion of the sale, the insider directly 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 sale was disclosed in a document filed 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 that occurred on Wednesday, September 9th. The shares were sold at an average price of $7.13, for a total value of $205,607.81. Following the completion of the transaction, the insider directly owned 3,885,115 shares in the company, valued at approximately $27,700,869.95. This trade represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 946,961 shares of company stock worth $6,725,291. 9.49% of the stock is owned by corporate insiders.

Institutional Trading of Entrada Therapeutics

Several hedge funds have recently modified their holdings of the stock. 5AM Venture Management LLC bought a new stake in Entrada Therapeutics in the second quarter valued at $29,854,949. BlackRock Inc. bought a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $19,013,000. Nantahala Capital Management LLC bought a new position in shares of Entrada Therapeutics during the 2nd quarter worth about $2,212,232. Baker BROS. Advisors LP grew its stake in shares of Entrada Therapeutics by 4.3% in the 4th quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company's stock valued at $52,148,000 after buying an additional 206,911 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at about $648,000. Institutional investors own 86.39% of the company's stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc is a biotechnology company focused on developing medicines designed to address diseases caused by dysfunctional proteins inside cells. The company's approach is based on its Endosomal Escape Vehicle (EEV) platform, which is intended to deliver therapeutic molecules into target cells and help them escape endosomes, cellular compartments that can limit the activity of certain treatments.

Entrada is applying the EEV platform to oligonucleotide-based medicines, including compounds designed to modify RNA and influence the production of disease-associated proteins.

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