Entrada Therapeutics, Inc. (NASDAQ:TRDA) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six analysts give Entrada Therapeutics a consensus “Moderate Buy” rating, with four buys, one hold and one sell. The average 12-month price target is $17.75 versus the stock’s $7.00 opening price.
• Recent financial results fell short of expectations: Entrada reported a quarterly loss of $1.01 per share, worse than the $0.97 consensus estimate, while revenue of $0.90 million missed expectations of $2.32 million. Analysts expect a full-year loss of $4.03 per share.
• Insiders have been selling shares: Insiders sold 513,728 shares worth approximately $3.59 million over the past 90 days, while institutional investors and hedge funds own 86.39% of the company.

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.75.

Several equities research analysts have weighed in on TRDA shares. Guggenheim cut their price target on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Roth Capital reiterated a "buy" rating and issued a $11.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, August 12th. Weiss Ratings downgraded Entrada Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 13th. Finally, HC Wainwright lowered shares of Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, May 8th.

Entrada Therapeutics Stock Down 3.7%

Shares of TRDA stock opened at $7.00 on Friday. The firm has a 50 day moving average of $7.08 and a two-hundred day moving average of $9.32. The stock has a market capitalization of $272.58 million, a PE ratio of -1.77 and a beta of -0.26. Entrada Therapeutics has a 52 week low of $5.02 and a 52 week high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $0.90 million for the quarter, compared to analysts' expectations of $2.32 million. Entrada Therapeutics had a negative return on equity of 57.61% and a negative net margin of 3,537.73%. Analysts expect that Entrada Therapeutics will post -4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kush Parmar sold 114,756 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the director directly owned 2,848,310 shares in the company, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of Entrada Therapeutics stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the sale, the insider directly owned 2,848,310 shares of the company's stock, valued at approximately $19,738,788.30. This trade represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 513,728 shares of company stock worth $3,586,368 in the last 90 days. Corporate insiders own 9.49% of the company's stock.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TRDA. Alliancebernstein L.P. boosted its position in shares of Entrada Therapeutics by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 24,320 shares of the company's stock worth $141,000 after acquiring an additional 1,620 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Entrada Therapeutics by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,465 shares of the company's stock valued at $246,000 after acquiring an additional 1,970 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Entrada Therapeutics by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company's stock worth $445,000 after acquiring an additional 2,239 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Entrada Therapeutics by 13.5% during the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company's stock worth $209,000 after acquiring an additional 2,424 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Entrada Therapeutics by 3.6% during the second quarter. First Trust Advisors LP now owns 75,120 shares of the company's stock worth $505,000 after purchasing an additional 2,631 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

About Entrada Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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