Entrada Therapeutics (NASDAQ:TRDA) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Entrada Therapeutics beat quarterly EPS estimates, reporting a loss of $1.01 per share versus the expected $1.05 loss. Revenue was $0.90 million, well below the $2.23 million analyst consensus.
• Shares fell to $7.06 during Wednesday trading, with the stock remaining well below its 12-month high of $16.45. Analysts’ consensus rating is “Hold,” with an average price target of $17.50.
• Insiders sold shares worth approximately $1.61 million over the past 90 days, while hedge funds and other institutional investors own 86.39% of the company.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.04, FiscalAI reports. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.23 million. Entrada Therapeutics had a negative return on equity of 51.22% and a negative net margin of 2,895.05%.

Entrada Therapeutics Price Performance

Shares of TRDA traded down $0.18 during trading hours on Wednesday, hitting $7.06. The stock had a trading volume of 591,549 shares, compared to its average volume of 333,678. Entrada Therapeutics has a 12 month low of $4.93 and a 12 month high of $16.45. The firm has a market capitalization of $274.07 million, a PE ratio of -1.77 and a beta of -0.26. The stock has a fifty day moving average price of $6.85 and a 200 day moving average price of $9.79.

Analysts Set New Price Targets

Several brokerages recently commented on TRDA. HC Wainwright downgraded shares of Entrada Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Entrada Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, June 11th. Guggenheim cut their price target on shares of Entrada Therapeutics from $20.00 to $17.00 and set a "buy" rating on the stock 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. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Entrada Therapeutics has an average rating of "Hold" and a consensus target price of $17.50.

Insider Activity at Entrada Therapeutics

In other Entrada Therapeutics news, major shareholder Ventures V. L.P. 5Am sold 114,756 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $795,259.08. Following the transaction, the insider owned 2,848,310 shares of the company's stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kush Parmar sold 114,756 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $6.93, for a total value of $795,259.08. Following the sale, the director owned 2,848,310 shares of the company's stock, valued at approximately $19,738,788.30. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 232,948 shares of company stock worth $1,614,055. 9.49% of the stock is owned by insiders.

Institutional Trading of Entrada Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRDA. State of Wyoming raised its position in Entrada Therapeutics by 130.9% in the second quarter. State of Wyoming now owns 7,575 shares of the company's stock worth $51,000 after acquiring an additional 4,295 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Entrada Therapeutics by 72.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company's stock worth $51,000 after purchasing an additional 3,707 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Entrada Therapeutics in the 2nd quarter worth $68,000. Jain Global LLC bought a new position in Entrada Therapeutics in the 3rd quarter worth $69,000. Finally, IHT Wealth Management LLC bought a new position in Entrada Therapeutics in the 2nd quarter worth $72,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.

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