Entrada Therapeutics (NASDAQ:TRDA) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Entrada Therapeutics to “Hold” from “Sell.” The broader analyst consensus is also “Hold,” with an average price target of $17.75.
• TRDA shares opened at $4.41, near their 52-week low of $4.11, after the company reported a quarterly loss of $1.01 per share and revenue of $0.90 million, missing analyst estimates.
• Insiders sold 946,961 shares worth approximately $6.7 million during the last quarter, while institutional investors own 86.39% of Entrada Therapeutics’ stock.

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

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

Entrada Therapeutics Stock Down 6.8%

Entrada Therapeutics stock opened at $4.41 on Friday. Entrada Therapeutics has a 52 week low of $4.11 and a 52 week high of $16.45. The business's 50-day moving average price is $6.33 and its 200 day moving average price is $7.67.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its quarterly earnings data 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 net margin of 3,537.73% and a negative return on equity of 57.61%. The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.32 million. Sell-side analysts forecast that Entrada Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $7.13, for a total value of $205,607.81. Following the transaction, the insider directly owned 3,885,115 shares in the company, valued at $27,700,869.95. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $7.06, for a total transaction of $102,857.14. Following the completion of the sale, the insider owned 4,318,348 shares of the company's stock, valued at $30,487,536.88. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 946,961 shares of company stock valued at $6,725,291. 9.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Entrada Therapeutics during the second quarter valued at $19,013,000. Nantahala Capital Management LLC bought a new position in Entrada Therapeutics in the second quarter worth $2,212,232. 5AM Venture Management LLC purchased a new stake in Entrada Therapeutics in the second quarter worth about $29,854,949. GSA Capital Partners LLP bought a new stake in Entrada Therapeutics in the second quarter worth $648,000. Finally, Bank of New York Mellon Corp purchased a new position in Entrada Therapeutics in the 2nd quarter worth approximately $582,000. Institutional investors own 86.39% of the company's stock.

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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