Entrada Therapeutics, Inc. (NASDAQ:TRDA) Receives $25.67 Consensus Target Price from Analysts

Key Points

• Entrada Therapeutics has received an average consensus rating of "Buy" from analysts, with one hold and three buy recommendations, along with a one-year price target of $25.67.
• Recent insider trading saw Director Kush Parmar selling 75,000 shares at $6.91 each, reflecting a 6.31% decrease in his stake in the company.
• The company reported a net loss of $1.04 per share for the last quarter, falling short of the consensus estimate and showing a significant drop in revenue compared to expectations.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.6667.

Several brokerages have recently issued reports on TRDA. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded shares of Entrada Therapeutics to a "hold" rating in a research note on Friday, August 8th.

Entrada Therapeutics Trading Down 0.9%

Shares of TRDA stock traded down $0.05 during trading hours on Tuesday, hitting $5.28. 244,295 shares of the company were exchanged, compared to its average volume of 216,877. The firm has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $7.64. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $21.79. The stock has a market capitalization of $200.85 million, a price-to-earnings ratio of -2.97 and a beta of -0.13.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.18). Entrada Therapeutics had a negative return on equity of 17.81% and a negative net margin of 92.30%.The company had revenue of $1.98 million for the quarter, compared to analysts' expectations of $8.17 million. Sell-side analysts anticipate that Entrada Therapeutics will post 1.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Kush Parmar sold 75,000 shares of Entrada Therapeutics stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $6.91, for a total value of $518,250.00. Following the completion of the transaction, the director directly owned 1,113,092 shares in the company, valued at approximately $7,691,465.72. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of Entrada Therapeutics stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $6.91, for a total transaction of $385,128.85. Following the completion of the transaction, the insider owned 3,220,287 shares of the company's stock, valued at $22,252,183.17. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,000 shares of company stock valued at $1,782,000 over the last quarter. 7.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Entrada Therapeutics during the 4th quarter valued at $57,000. State of Wyoming purchased a new position in Entrada Therapeutics in the fourth quarter worth $104,000. Occudo Quantitative Strategies LP purchased a new position in Entrada Therapeutics in the second quarter worth $68,000. IHT Wealth Management LLC purchased a new position in Entrada Therapeutics in the second quarter worth $72,000. Finally, Trexquant Investment LP bought a new stake in Entrada Therapeutics in the first quarter worth $101,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.