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

Key Points

• Analysts hold a mixed view on Entrada Therapeutics, with one sell, two hold, and three buy ratings, resulting in an average “Hold” recommendation and a $17.50 12-month price target.
• TRDA shares opened at $7.26, near their 50-day average of $6.84 and below the 200-day average of $9.82; the stock has traded between $4.93 and $16.45 over the past year.
• Entrada beat quarterly EPS expectations, reporting a loss of $0.95 per share versus the projected $1.06 loss, but revenue of $0.88 million fell short of the $2.92 million consensus estimate. Insiders sold 232,948 shares over the past 90 days, while institutional investors own 86.39% of the company.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) has received an average recommendation of "Hold" from the six ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.50.

A number of equities analysts have recently issued reports on TRDA shares. HC Wainwright downgraded shares of Entrada Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, May 8th. Oppenheimer upped their target price on shares of Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Weiss Ratings cut shares of Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, June 11th. Guggenheim dropped their target price on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating for the company in a report on Monday, June 8th. Finally, Roth Capital set a $10.00 price target on shares of Entrada Therapeutics in a research report on Friday, May 8th.

Insider Activity at Entrada Therapeutics

In related news, Director Kush Parmar sold 114,756 shares of Entrada Therapeutics stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $6.93, for a total transaction of $795,259.08. Following the completion of the transaction, the director directly owned 2,848,310 shares of the company's stock, valued at approximately $19,738,788.30. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bernhardt G. Zeiher acquired 5,000 shares of Entrada Therapeutics stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $5.86 per share, with a total value of $29,300.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at $29,300. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 232,948 shares of company stock valued at $1,614,055 in the last ninety days. Corporate insiders own 9.49% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming grew its stake in Entrada Therapeutics by 130.9% in the 2nd quarter. State of Wyoming now owns 7,575 shares of the company's stock valued at $51,000 after acquiring an additional 4,295 shares during the last quarter. Russell Investments Group Ltd. raised its position in Entrada Therapeutics by 72.7% during the third quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company's stock worth $51,000 after acquiring an additional 3,707 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Entrada Therapeutics during the second quarter worth about $68,000. Jain Global LLC purchased a new stake in shares of Entrada Therapeutics in the third quarter valued at about $69,000. Finally, IHT Wealth Management LLC purchased a new stake in shares of Entrada Therapeutics in the second quarter valued at about $72,000. Institutional investors and hedge funds own 86.39% of the company's stock.

Entrada Therapeutics Price Performance

Shares of TRDA stock opened at $7.26 on Tuesday. The business's fifty day moving average price is $6.84 and its 200 day moving average price is $9.82. Entrada Therapeutics has a 1-year low of $4.93 and a 1-year high of $16.45. The firm has a market capitalization of $281.83 million, a PE ratio of -1.82 and a beta of -0.26.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last released its 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. The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $2.92 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%. Equities research analysts expect that Entrada Therapeutics will post -4.12 earnings per share for the current fiscal year.

About Entrada Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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