Entrada Therapeutics (NASDAQ:TRDA) Sets New 52-Week High - Should You Buy?

Key Points

• Entrada Therapeutics' stock hit a new 52-week high, trading as high as $14.36 and last at $14.45 on Tuesday, with a market cap of about $542.4M and 50/200-day moving averages of $12.10/$10.08.
• Analyst views are mixed but the consensus is a Moderate Buy with an average price target of $19.00, and ratings ranging from Strong Buy to Sell across seven analysts.
• The company reported ($0.94) EPS that beat estimates but had a revenue miss ($1.3M), carries a negative P/E, insiders sold roughly 41,975 shares last quarter, and institutional investors own about 86% of the stock.

Entrada Therapeutics, Inc. (NASDAQ:TRDA - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $14.36 and last traded at $14.45, with a volume of 9344 shares. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

TRDA has been the topic of a number of recent analyst reports. Wall Street Zen lowered Entrada Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. Oppenheimer boosted their price target on Entrada Therapeutics from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Wednesday, February 18th. Guggenheim upgraded Entrada Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Entrada Therapeutics in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.00.

Entrada Therapeutics Price Performance

The business has a 50 day moving average of $12.10 and a 200 day moving average of $10.08. The firm has a market capitalization of $542.43 million, a price-to-earnings ratio of -4.12 and a beta of -0.15.

Entrada Therapeutics (NASDAQ:TRDA - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $7.41 million. Entrada Therapeutics had a negative return on equity of 39.83% and a negative net margin of 565.48%. On average, sell-side analysts forecast that Entrada Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity at Entrada Therapeutics

In other news, CFO Kory James Wentworth sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $12.95, for a total value of $32,375.00. Following the sale, the chief financial officer directly owned 119,010 shares in the company, valued at approximately $1,541,179.50. This represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nathan J. Dowden sold 11,894 shares of the company's 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 completion of the sale, the chief operating officer owned 198,588 shares in the company, valued at approximately $2,591,573.40. This represents a 5.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,975 shares of company stock worth $540,444. Corporate insiders own 7.59% of the company's stock.

Institutional Investors Weigh In On Entrada Therapeutics

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake 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. grew its stake in shares of Entrada Therapeutics by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 24,320 shares of the company's stock valued at $141,000 after purchasing an additional 1,620 shares during the period. Great Lakes Advisors LLC grew its stake in shares of Entrada Therapeutics by 5.5% in the 4th quarter. Great Lakes Advisors LLC now owns 43,268 shares of the company's stock valued at $445,000 after purchasing an additional 2,239 shares during the period. Quadrature Capital Ltd grew its stake in shares of Entrada Therapeutics by 13.5% in the 4th quarter. Quadrature Capital Ltd now owns 20,318 shares of the company's stock valued at $209,000 after purchasing an additional 2,424 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Entrada Therapeutics by 3.6% in the 2nd quarter. First Trust Advisors LP now owns 75,120 shares of the company's stock valued at $505,000 after purchasing an additional 2,631 shares during the period. 86.39% of the stock is currently owned by 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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