Entrada Therapeutics, Inc. (NASDAQ:TRDA) Stock Has Average Target Price of $17.75 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Entrada Therapeutics, with four buys, two holds and one sell among seven firms; the average 12-month price target is $17.75.
• TRDA opened at $5.44, near its 52-week low of $4.11 and below its 50-day and 200-day moving averages of $5.68 and $8.48, respectively.
• The company beat quarterly EPS estimates, reporting a loss of $0.94 per share versus expectations of a $1.01 loss, but revenue of $0.91 million fell short of the $2.30 million forecast. Insiders sold about 496,000 shares worth $3.6 million over the past 90 days.

Shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) have been given an average rating of "Hold" by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.75.

TRDA has been the topic of a number of research reports. UBS Group reissued a "neutral" rating on shares of Entrada Therapeutics in a report on Monday, October 19th. Wall Street Zen upgraded Entrada Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday. Roth Capital reiterated a "buy" rating and issued a $11.00 price target on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Entrada Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, November 4th. Finally, HC Wainwright reissued a "neutral" rating on shares of Entrada Therapeutics in a research report on Monday, October 19th.

Entrada Therapeutics Price Performance

NASDAQ TRDA opened at $5.44 on Thursday. The stock's fifty day moving average price is $5.68 and its 200 day moving average price is $8.48. Entrada Therapeutics has a 1 year low of $4.11 and a 1 year high of $16.45. The company has a market cap of $212.98 million, a price-to-earnings ratio of -1.42 and a beta of -0.19.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.01) by $0.07. Entrada Therapeutics had a negative return on equity of 64.00% and a negative net margin of 4,057.98%. The company had revenue of $0.91 million during the quarter, compared to analyst estimates of $2.30 million. Research analysts expect that Entrada Therapeutics will post -4.16 earnings per share for the current year.

Insider Buying and Selling at Entrada Therapeutics

In other news, major shareholder Bioventures 2014 L.P. Mpm sold 14,569 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $7.06, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $205,607.81. Following the transaction, the insider directly owned 3,885,115 shares of the company's stock, valued at approximately $27,700,869.95. This trade represents a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 495,947 shares of company stock worth $3,600,470 over the last ninety days. Insiders own 9.49% of the company's stock.

Institutional Investors Weigh In On Entrada Therapeutics

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

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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