Entrada Therapeutics (NASDAQ:TRDA) Releases Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Entrada reported a quarterly loss of $0.94 per share, beating analyst estimates by $0.04. Revenue was $0.91 million, well below the $2.30 million consensus estimate.
• The stock fell 10.1% during Thursday trading to $4.55. Major shareholders have also sold shares recently, with insiders selling 693,025 shares worth about $4.96 million over the past 90 days.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is Hold, with an average price target of $17.75; four analysts rate the stock Buy, two Hold, and one Sell.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($0.98) by $0.04, FiscalAI reports. The company had revenue of $0.91 million during the quarter, compared to the consensus estimate of $2.30 million. Entrada Therapeutics had a negative net margin of 3,537.73% and a negative return on equity of 57.61%.

Entrada Therapeutics Stock Down 10.1%

Shares of NASDAQ TRDA traded down $0.51 during mid-day trading on Thursday, reaching $4.55. 305,203 shares of the company were exchanged, compared to its average volume of 336,524. The stock has a market capitalization of $177.18 million, a P/E ratio of -1.15 and a beta of -0.19. The company's 50-day simple moving average is $5.89 and its 200-day simple moving average is $8.64. Entrada Therapeutics has a twelve month low of $4.11 and a twelve month high of $16.45.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Ventures V. L.P. 5Am sold 52,317 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $6.85, for a total transaction of $358,371.45. Following the completion of the sale, the insider directly owned 2,783,781 shares in the company, valued at $19,068,899.85. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $7.41, for a total transaction of $1,426,425.00. Following the sale, the insider owned 3,913,952 shares of the company's stock, valued at $29,002,384.32. This trade represents a 4.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 693,025 shares of company stock worth $4,964,321. Insiders own 9.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TRDA shares. Weiss Ratings downgraded shares of Entrada Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 16th. UBS Group restated a "neutral" rating on shares of Entrada Therapeutics in a research note on Monday, October 19th. Wall Street Zen lowered Entrada Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday. HC Wainwright reaffirmed a "neutral" rating on shares of Entrada Therapeutics in a research report on Monday, October 19th. Finally, Roth Capital reissued a "buy" rating and set a $11.00 target price on shares of Entrada Therapeutics in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $17.75.

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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