Entrada Therapeutics (NASDAQ:TRDA) Sets New 52-Week High on Analyst Upgrade

Key Points

• Entrada Therapeutics hit a new 52-week high after Oppenheimer upgraded the stock and raised its price target to $23 (shares traded up to $14 and last at $13.88).
• Analyst coverage is mixed but the consensus is a "Moderate Buy" with an average price target of $19 (one Strong Buy, three Buy, one Hold, one Sell).
• Insiders, including the CFO and COO, sold a combined ~23,000 shares on March 10 and insiders sold 41,975 shares (~$540k) over the last three months, while the company reported a Q that beat EPS estimates (‑$0.94 vs. ‑$1.32) but missed revenue estimates and remains deeply unprofitable.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $21.00 to $23.00. Oppenheimer currently has an outperform rating on the stock. Entrada Therapeutics traded as high as $14.00 and last traded at $13.88, with a volume of 197381 shares trading hands. The stock had previously closed at $13.15.

Several other equities research analysts have also commented on TRDA. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Guggenheim raised shares of Entrada Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 11th. Cantor Fitzgerald began coverage on shares of Entrada Therapeutics in a research note on Wednesday, April 1st. They issued an "overweight" rating for the company. Wall Street Zen cut Entrada Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Entrada Therapeutics in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Activity

In other Entrada Therapeutics news, CFO Kory James Wentworth sold 11,388 shares of the firm'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 directly owned 121,510 shares of the company's stock, valued at approximately $1,582,060.20. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Nathan J. Dowden sold 11,894 shares of Entrada Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The shares were 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 in the company, valued at $2,591,573.40. This trade represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,975 shares of company stock worth $540,444 over the last three months. Insiders own 8.11% of the company's stock.

Institutional Investors Weigh In On Entrada Therapeutics

Several hedge funds have recently made changes to their positions in TRDA. Royce & Associates LP increased its position in Entrada Therapeutics by 54.8% during the 3rd quarter. Royce & Associates LP now owns 345,507 shares of the company's stock valued at $2,004,000 after buying an additional 122,256 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Entrada Therapeutics during the third quarter worth about $325,000. Cantor Fitzgerald L. P. acquired a new stake in Entrada Therapeutics during the third quarter worth about $391,000. Occudo Quantitative Strategies LP acquired a new stake in Entrada Therapeutics during the second quarter worth about $68,000. Finally, State of Wyoming grew its holdings in Entrada Therapeutics by 130.9% during 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. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Entrada Therapeutics Stock Up 5.6%

The firm has a market cap of $531.38 million, a PE ratio of -4.01 and a beta of -0.15. The firm has a 50-day moving average price of $11.85 and a two-hundred day moving average price of $9.78.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.38. Entrada Therapeutics had a negative net margin of 565.48% and a negative return on equity of 39.83%. The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $7.41 million. Research analysts forecast that Entrada Therapeutics, Inc. will post 1.12 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.

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