Entrada Therapeutics (NASDAQ:TRDA) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Entrada Therapeutics was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a bearish outlook from analysts.
• Despite the downgrade, HC Wainwright maintains a "buy" rating with a target price of $20.00 for Entrada shares, highlighting a mixed analyst sentiment on the stock.
• Entrada Therapeutics reported a significant earnings miss, with a loss of ($1.04) EPS and revenue of only $1.98 million, falling short of analysts' expectations of $8.17 million.

Wall Street Zen downgraded shares of Entrada Therapeutics (NASDAQ:TRDA - Free Report) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Entrada Therapeutics in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

Entrada Therapeutics Stock Performance

Shares of NASDAQ TRDA traded down $0.17 during mid-day trading on Friday, hitting $5.02. 242,106 shares of the stock were exchanged, compared to its average volume of 147,588. The company has a market cap of $190.52 million, a P/E ratio of -2.82 and a beta of -0.12. The stock's fifty day simple moving average is $6.90 and its two-hundred day simple moving average is $8.96. Entrada Therapeutics has a twelve month low of $4.93 and a twelve month high of $21.79.

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 for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.18). The company had revenue of $1.98 million during the quarter, compared to analyst estimates of $8.17 million. Entrada Therapeutics had a negative net margin of 92.30% and a negative return on equity of 17.81%. As a group, equities research analysts predict that Entrada Therapeutics will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Entrada Therapeutics news, Director Kush Parmar sold 75,000 shares of the firm's 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 transaction, the director directly owned 1,113,092 shares of the company's stock, valued at approximately $7,691,465.72. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures V. L.P. 5Am sold 55,735 shares of the firm's 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 directly owned 3,220,287 shares in the company, valued at approximately $22,252,183.17. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,000 shares of company stock worth $1,782,000. Insiders own 8.11% of the company's stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TRDA. Merck & Co. Inc. bought a new position in shares of Entrada Therapeutics during the first quarter worth $15,728,000. Janus Henderson Group PLC boosted its position in shares of Entrada Therapeutics by 21.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,080,367 shares of the company's stock worth $36,011,000 after purchasing an additional 368,908 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Entrada Therapeutics by 19.7% during the fourth quarter. Vanguard Group Inc. now owns 1,464,237 shares of the company's stock worth $25,317,000 after purchasing an additional 241,052 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Entrada Therapeutics by 127.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 217,006 shares of the company's stock worth $3,752,000 after purchasing an additional 121,598 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Entrada Therapeutics by 3,104.3% during the fourth quarter. Federated Hermes Inc. now owns 99,814 shares of the company's stock worth $1,726,000 after purchasing an additional 96,699 shares in 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.