Entrada Therapeutics (NASDAQ:TRDA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Entrada Therapeutics from “sell” to “hold,” while analyst sentiment overall remains a “Moderate Buy” with an average price target of $17.75.
• Entrada Therapeutics opened at $7.13, near its 52-week low, and recently reported a quarterly loss of $1.01 per share and revenue of $0.90 million, both weaker than analyst expectations.
• Insiders sold approximately 687,124 shares worth $4.82 million over the past three months, while institutional investors own 86.39% of the company.

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

Several other equities research analysts have also commented on the stock. Weiss Ratings raised shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. HC Wainwright lowered shares of Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, May 8th. Guggenheim decreased their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, June 8th. Finally, Roth Capital reiterated a "buy" rating and set a $11.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.75.

Entrada Therapeutics Price Performance

TRDA stock opened at $7.13 on Friday. Entrada Therapeutics has a 1 year low of $5.02 and a 1 year high of $16.45. The company has a market cap of $277.64 million, a P/E ratio of -1.80 and a beta of -0.25. The stock's fifty day moving average price is $7.06 and its 200-day moving average price is $9.19.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). The firm had revenue of $0.90 million for the quarter, compared to analysts' expectations of $2.32 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%. As a group, analysts expect that Entrada Therapeutics will post -4.03 earnings per share for the current year.

Insider Activity

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 32,263 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $7.17, for a total transaction of $231,325.71. Following the sale, the insider directly owned 4,144,952 shares in the company, valued at $29,719,305.84. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kush Parmar sold 92,444 shares of Entrada Therapeutics stock in a transaction on Monday, August 10th. The shares were sold at an average price of $7.00, for a total transaction of $647,108.00. Following the transaction, the director owned 2,691,337 shares in the company, valued at approximately $18,839,359. This trade represents a 3.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 687,124 shares of company stock worth $4,819,524 in the last three months. Company insiders own 9.49% of the company's stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its holdings in Entrada Therapeutics by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 24,320 shares of the company's stock worth $141,000 after purchasing an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Entrada Therapeutics by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company's stock valued at $246,000 after buying an additional 1,970 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Entrada Therapeutics by 5.5% during the fourth quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company's stock valued at $445,000 after buying an additional 2,239 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Entrada Therapeutics by 13.5% in the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company's stock worth $209,000 after buying an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Entrada Therapeutics by 3.6% in the second quarter. First Trust Advisors LP now owns 75,120 shares of the company's stock worth $505,000 after buying an additional 2,631 shares in the last quarter. Institutional investors own 86.39% of the company's stock.

Entrada Therapeutics Company Profile

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.

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