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

Key Points

• Entrada Therapeutics has a consensus analyst rating of “Hold” from six brokerages, with a mix of one sell, two hold, and three buy ratings. The average 12-month price target is $17.50.
• The stock closed at $7.40, well below its 52-week high of $16.45, while the company’s most recent quarterly results showed an EPS loss of $0.95, better than expected, but revenue of just $0.88 million, far below estimates.
• Insider activity was mixed: COO Nathan J. Dowden sold 15,000 shares in May, while director Bernhardt G. Zeiher bought 5,000 shares. Institutional investors remain heavily involved, with hedge funds and other institutions owning 86.39% of the stock.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) has received a consensus recommendation of "Hold" from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.50.

TRDA has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Roth Capital set a $10.00 price objective on Entrada Therapeutics in a report on Friday, May 8th. Oppenheimer lifted their price objective on Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Cantor Fitzgerald started coverage on Entrada Therapeutics in a research note on Wednesday, April 1st. They set an "overweight" rating on the stock. Finally, Weiss Ratings downgraded Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, June 11th.

Entrada Therapeutics Stock Performance

Shares of Entrada Therapeutics stock opened at $7.40 on Friday. Entrada Therapeutics has a 52-week low of $4.93 and a 52-week high of $16.45. The stock has a market capitalization of $287.28 million, a price-to-earnings ratio of -1.85 and a beta of -0.26. The company's 50 day moving average price is $7.48 and its 200-day moving average price is $10.27.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.06) by $0.11. Entrada Therapeutics had a negative net margin of 2,895.05% and a negative return on equity of 51.22%. The company had revenue of $0.88 million during the quarter, compared to analyst estimates of $2.92 million. As a group, equities research analysts forecast that Entrada Therapeutics will post -4.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 15,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $15.33, for a total transaction of $229,950.00. Following the transaction, the chief operating officer directly owned 198,588 shares of the company's stock, valued at approximately $3,044,354.04. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernhardt G. Zeiher acquired 5,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $5.86 per share, with a total value of $29,300.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $29,300. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 9.49% of the company's stock.

Institutional Trading of Entrada Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TRDA. Millennium Management LLC grew its holdings in shares of Entrada Therapeutics by 391.2% during the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company's stock worth $4,852,000 after acquiring an additional 666,287 shares during the period. Citadel Advisors LLC lifted its stake in shares of Entrada Therapeutics by 234.5% in the 3rd quarter. Citadel Advisors LLC now owns 335,741 shares of the company's stock valued at $1,947,000 after purchasing an additional 235,384 shares during the period. Baker BROS. Advisors LP boosted its position in shares of Entrada Therapeutics by 4.3% during the fourth quarter. Baker BROS. Advisors LP now owns 5,072,730 shares of the company's stock valued at $52,148,000 after purchasing an additional 206,911 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Entrada Therapeutics by 115.3% during the third quarter. Qube Research & Technologies Ltd now owns 287,873 shares of the company's stock valued at $1,670,000 after purchasing an additional 154,143 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Entrada Therapeutics by 4,767.4% in the third quarter. BNP Paribas Financial Markets now owns 148,212 shares of the company's stock worth $860,000 after purchasing an additional 145,167 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Entrada Therapeutics Company Profile

Entrada Therapeutics NASDAQ: TRDA is a clinical-stage biotechnology company focused on enabling the development of protein-based therapeutics that can cross cell membranes and engage intracellular targets. Using its proprietary cell-penetrating miniature protein (CPMP) platform and intracellular targeting of proteins (iTOP) delivery technology, Entrada aims to expand the range of diseases addressable by large-molecule drugs.

The company's pipeline includes programs in rare and serious diseases where conventional biologics have limited intracellular activity.

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