Entrada Therapeutics (NASDAQ:TRDA) Reaches New 1-Year High - Here's What Happened

Key Points

• 52-week high: Entrada Therapeutics (NASDAQ:TRDA) reached a new 52-week high of $13.66 in mid-day trading, last at $13.3660 with 121,137 shares traded and a market cap of about $516 million.
• Mixed analyst view: Analysts are split—1 Strong Buy, 3 Buy, 1 Hold and 1 Sell—giving a consensus rating of Moderate Buy and an average price target of $18.50.
• Insider activity and results: the CFO and COO each sold roughly 11.4k shares on March 10, insiders sold 39,475 shares this quarter (insiders own 7.59%), while the company beat EPS estimates (-$0.94 vs. -$1.32) but missed revenue expectations ($1.3M vs. $7.41M) and remains unprofitable.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.66 and last traded at $13.3660, with a volume of 121137 shares changing hands. The stock had previously closed at $12.62.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Entrada Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Guggenheim raised Entrada Therapeutics to a "strong-buy" rating in a report on Wednesday, February 11th. Cantor Fitzgerald assumed coverage on Entrada Therapeutics in a research note on Wednesday. They set an "overweight" rating on the stock. Oppenheimer assumed coverage on Entrada Therapeutics in a research report on Wednesday, January 28th. They set an "outperform" rating and a $21.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Entrada Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Entrada Therapeutics Stock Performance

The business's 50 day moving average price is $11.69 and its two-hundred day moving average price is $9.55. The company has a market capitalization of $515.98 million, a price-to-earnings ratio of -3.90 and a beta of -0.12.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($1.32) by $0.38. The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. On average, sell-side analysts expect that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 11,388 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.02, for a total value of $148,271.76. Following the transaction, the chief financial officer owned 121,510 shares of the company's stock, valued at approximately $1,582,060.20. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan J. Dowden sold 11,894 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $13.05, for a total value of $155,216.70. Following the sale, the chief operating officer directly owned 198,588 shares of the company's stock, valued at approximately $2,591,573.40. This represents a 5.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 39,475 shares of company stock worth $508,069. 7.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Entrada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Entrada Therapeutics by 9.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,495 shares of the company's stock valued at $176,000 after purchasing an additional 1,560 shares during the period. Alliancebernstein L.P. raised its holdings in Entrada Therapeutics by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 24,320 shares of the company's stock worth $141,000 after buying an additional 1,620 shares during the period. Great Lakes Advisors LLC lifted its stake in Entrada Therapeutics by 5.5% during the fourth quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company's stock valued at $445,000 after buying an additional 2,239 shares in the last quarter. Intech Investment Management LLC lifted its stake in Entrada Therapeutics by 15.7% during the second quarter. Intech Investment Management LLC now owns 17,702 shares of the company's stock valued at $119,000 after buying an additional 2,397 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of Entrada Therapeutics by 13.5% in the fourth quarter. Quadrature Capital Ltd now owns 20,318 shares of the company's stock worth $209,000 after buying an additional 2,424 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

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.

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.