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

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 analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.6667.

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

Insiders Place Their Bets

In other news, Director Kush Parmar sold 75,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $6.91, for a total value of $518,250.00. Following the transaction, the director owned 1,113,092 shares of the company's stock, valued at $7,691,465.72. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $6.91, for a total value of $385,128.85. Following the completion of the transaction, the insider directly owned 3,220,287 shares in the company, valued at approximately $22,252,183.17. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,000 shares of company stock worth $1,782,000 in the last three months. 7.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Entrada Therapeutics by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,259 shares of the company's stock worth $298,000 after purchasing an additional 1,000 shares during the period. WCG Wealth Advisors LLC increased its holdings in Entrada Therapeutics by 6.2% during the 4th quarter. WCG Wealth Advisors LLC now owns 24,030 shares of the company's stock worth $415,000 after purchasing an additional 1,406 shares during the period. Martingale Asset Management L P increased its holdings in Entrada Therapeutics by 4.0% during the 1st quarter. Martingale Asset Management L P now owns 40,163 shares of the company's stock worth $363,000 after purchasing an additional 1,540 shares during the period. Bank of America Corp DE increased its holdings in Entrada Therapeutics by 4.9% during the 4th quarter. Bank of America Corp DE now owns 35,721 shares of the company's stock worth $618,000 after purchasing an additional 1,660 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in Entrada Therapeutics by 14.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,277 shares of the company's stock worth $103,000 after purchasing an additional 1,874 shares during the period. Institutional investors and hedge funds own 86.39% of the company's stock.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA opened at $5.28 on Tuesday. The company has a market cap of $200.85 million, a PE ratio of -2.97 and a beta of -0.13. The business has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $7.83. Entrada Therapeutics has a fifty-two week low of $4.93 and a fifty-two week high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.98 million during the quarter, compared to analysts' expectations of $8.17 million. On average, sell-side analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Entrada Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.