Entrada Therapeutics (NASDAQ:TRDA) Reaches New 12-Month High - What's Next?

Key Points

• Entrada Therapeutics hit a new 52-week high, trading as high as $14.56 and last at $14.50 on Friday (volume ~322,826), an intraday gain of roughly 7.4% from the prior close.
• Analysts are mixed but the consensus is a Moderate Buy with a consensus target price of $19, including upgrades (Oppenheimer to $23, Guggenheim strong-buy) and some sell calls from Weiss and others.
• The company beat EPS estimates for the quarter (‑$0.94 vs. ‑$1.32) but missed revenue and remains unprofitable with negative margins and an expected ‑4.22 EPS for the year, while insiders sold ~41,975 shares last quarter even as institutional ownership sits at ~86%.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $14.56 and last traded at $14.50, with a volume of 322826 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. Wall Street Zen cut shares of Entrada Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of Entrada Therapeutics in a research report on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Oppenheimer boosted their price objective on Entrada Therapeutics from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Entrada Therapeutics Trading Up 7.4%

The company has a fifty day simple moving average of $12.72 and a 200-day simple moving average of $10.69. The stock has a market cap of $562.90 million, a price-to-earnings ratio of -4.19 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.38. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. As a group, analysts anticipate that Entrada Therapeutics, Inc. will post -4.22 earnings per share for the current year.

Insider Transactions at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 11,388 shares of the company's stock in a transaction dated 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 in the company, valued at $1,582,060.20. This represents a 8.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Nathan J. Dowden sold 11,894 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $13.05, for a total value of $155,216.70. Following the completion of the transaction, the chief operating officer owned 198,588 shares in the company, valued at $2,591,573.40. This represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,975 shares of company stock worth $540,444 in the last quarter. 8.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Entrada Therapeutics

A number of large investors have recently made changes to their positions in the business. Baker BROS. Advisors LP increased its holdings in shares of Entrada Therapeutics by 4.3% in the 4th 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 during the period. Wellington Management Group LLP increased its holdings in shares of Entrada Therapeutics by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 1,044,758 shares of the company's stock valued at $10,740,000 after purchasing an additional 90,339 shares during the period. Millennium Management LLC increased its holdings in shares of Entrada Therapeutics by 391.2% in the 3rd quarter. Millennium Management LLC now owns 836,609 shares of the company's stock valued at $4,852,000 after purchasing an additional 666,287 shares during the period. Geode Capital Management LLC increased its holdings in shares of Entrada Therapeutics by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 631,554 shares of the company's stock valued at $4,245,000 after purchasing an additional 42,479 shares during the period. Finally, State Street Corp increased its holdings in shares of Entrada Therapeutics by 2.0% in the 4th quarter. State Street Corp now owns 508,789 shares of the company's stock valued at $5,230,000 after purchasing an additional 10,174 shares during the period. Institutional investors and hedge funds own 86.39% of the company's stock.

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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