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

Key Points

• Entrada Therapeutics, Inc. has received a consensus rating of "Buy" from five brokerages, with an average 12-month target price of $25.67.
• The company reported a quarterly loss of ($1.04) earnings per share, falling short of the consensus estimate of ($0.86) by ($0.18).
• In the last 90 days, insiders have sold a total of 254,000 shares of Entrada Therapeutics, valued at approximately $1.78 million.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.6667.

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

Entrada Therapeutics Stock Performance

TRDA stock traded up $0.06 during midday trading on Friday, hitting $5.31. 58,115 shares of the company's stock were exchanged, compared to its average volume of 148,697. The stock's fifty day moving average price is $6.67 and its 200-day moving average price is $8.80. The company has a market cap of $201.99 million, a PE ratio of -2.99 and a beta of -0.12. Entrada Therapeutics has a one year low of $4.93 and a one year high of $21.79.

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

Insiders Place Their Bets

In related news, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $6.91, for a total transaction of $385,128.85. Following the sale, the insider owned 3,220,287 shares of the company's stock, valued at $22,252,183.17. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kush Parmar sold 75,000 shares of the firm'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 $518,250.00. Following the sale, the director directly owned 1,113,092 shares in the company, valued at approximately $7,691,465.72. This trade represents a 6.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,000 shares of company stock worth $1,782,000. Corporate insiders own 8.11% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Merck & Co. Inc. bought a new position in shares of Entrada Therapeutics in the 1st quarter worth about $15,728,000. Janus Henderson Group PLC increased its position in Entrada Therapeutics by 21.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company's stock valued at $36,011,000 after buying an additional 368,908 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Entrada Therapeutics by 127.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,006 shares of the company's stock valued at $3,752,000 after buying an additional 121,598 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Entrada Therapeutics by 435.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 133,730 shares of the company's stock valued at $899,000 after purchasing an additional 108,737 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Entrada Therapeutics by 77.2% during the 4th quarter. Renaissance Technologies LLC now owns 166,200 shares of the company's stock valued at $2,874,000 after purchasing an additional 72,400 shares during the last quarter. 86.39% of the stock is owned by 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.

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