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

Key Points

• Wall Street Zen upgraded Entrada Therapeutics from “sell” to “hold.” Analyst opinion overall is also “hold,” with an average price target of $17.75.
• Shares opened at $4.89, near the stock’s 52-week low of $4.11 and well below its 52-week high of $16.45.
• Quarterly EPS of a $0.94 loss beat estimates for a $0.98 loss, but revenue of $0.91 million fell short of the $2.30 million forecast.

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 Monday, Wall Street Zen reports.

TRDA has been the subject of several other research reports. HC Wainwright reiterated a "neutral" rating on shares of Entrada Therapeutics in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. UBS Group reaffirmed a "neutral" rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Finally, Roth Capital reiterated a "buy" rating and issued a $11.00 price target on shares of Entrada Therapeutics in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $17.75.

Entrada Therapeutics Stock Performance

NASDAQ:TRDA opened at $4.89 on Monday. The stock has a market capitalization of $190.42 million, a P/E ratio of -1.27 and a beta of -0.19. The company has a 50 day moving average price of $5.80 and a 200 day moving average price of $8.58. Entrada Therapeutics has a fifty-two week low of $4.11 and a fifty-two week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.98) by $0.04. The company had revenue of $0.91 million for the quarter, compared to analyst estimates of $2.30 million. Entrada Therapeutics had a negative return on equity of 59.74% and a negative net margin of 4,057.98%. Research analysts forecast that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Entrada Therapeutics

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 28,837 shares of the stock in a transaction 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 transaction, the insider directly owned 3,885,115 shares of the company's stock, valued at $27,700,869.95. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of Entrada Therapeutics stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.06, for a total transaction of $102,857.14. Following the sale, the insider owned 4,318,348 shares in the company, valued at $30,487,536.88. This represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 495,947 shares of company stock valued at $3,600,470 in the last 90 days. Insiders own 9.49% of the company's stock.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently made changes to their positions in TRDA. 5AM Venture Management LLC acquired a new stake in shares of Entrada Therapeutics in the 2nd quarter valued at about $29,854,949. BlackRock Inc. purchased a new position in Entrada Therapeutics during the 2nd quarter worth approximately $19,013,000. Nantahala Capital Management LLC acquired a new position in Entrada Therapeutics during the second quarter worth approximately $2,212,232. GSA Capital Partners LLP acquired a new position in Entrada Therapeutics during the second quarter worth approximately $648,000. Finally, Bank of New York Mellon Corp acquired a new position in Entrada Therapeutics during the second quarter worth approximately $582,000. Hedge funds and other institutional investors own 86.39% of the company's stock.

About Entrada Therapeutics

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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