Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Entrada Therapeutics “Moderate Buy”: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $17.75.
• Recent financial performance was weaker than expected: Entrada reported a quarterly loss of $1.01 per share versus the $0.97 consensus estimate, while revenue of $0.90 million fell short of expectations of $2.32 million.
• The stock remains well below its 52-week high: Shares opened at $6.71, compared with a 52-week range of $5.08 to $16.45. Insiders sold 946,961 shares worth approximately $6.7 million over the past 90 days, while institutional investors own 86.39% of the company.

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.75.

Several analysts have recently commented on the stock. Roth Capital restated a "buy" rating and issued a $11.00 target price 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 report on Wednesday, September 16th. Guggenheim dropped their target price on Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Entrada Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 5th.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $6.71 on Wednesday. The stock has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $8.77. The company has a market cap of $261.29 million, a price-to-earnings ratio of -1.69 and a beta of -0.25. Entrada Therapeutics has a 1-year low of $5.08 and a 1-year high of $16.45.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.01) earnings per share 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 firm had revenue of $0.90 million during the quarter, compared to analysts' expectations of $2.32 million. Analysts anticipate that Entrada Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the completion of the transaction, the insider owned 2,848,310 shares of the company's stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 192,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $7.41, for a total transaction of $1,426,425.00. Following the completion of the sale, the insider owned 3,913,952 shares in the company, valued at approximately $29,002,384.32. The trade was a 4.69% 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 946,961 shares of company stock worth $6,725,291 over the last ninety days. Insiders own 9.49% of the company's stock.

Institutional Trading of Entrada Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baker BROS. Advisors LP raised its stake in Entrada Therapeutics by 4.3% during the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company's stock worth $52,148,000 after buying an additional 206,911 shares during the last quarter. 5AM Venture Management LLC bought a new position in shares of Entrada Therapeutics in the 2nd quarter worth about $29,854,949. BlackRock Inc. acquired a new position in shares of Entrada Therapeutics in the 2nd quarter valued at about $19,013,000. Dimensional Fund Advisors LP boosted its position in shares of Entrada Therapeutics by 18.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 324,471 shares of the company's stock valued at $4,092,000 after purchasing an additional 51,093 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in Entrada Therapeutics during the second quarter worth approximately $2,212,232. Institutional investors own 86.39% of the company's stock.

About Entrada Therapeutics

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.

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.